How to claim exemptions from Long Term Capital GainsLong Term Capital Gains are defined as profits on sale of assets (movable or immovable) which have been held for:3 years or…
TDS on purchase of goods u/s 194Q
Tax on property sale in India attract various taxes such as Gains, Cess and TDS which is to be calculated and paid while selling the property. These taxes are to…
House Rent Deduction in Income taxHouse is one of the basic needs of any individual. Thus, the Government of India has made an allocation for deduction of rent paid by…
Cash Deposit Limit in Savings Account as per Income Tax: A Comprehensive Guide Cash Deposit Limit in Savings Account as per Income Tax: A Comprehensive Guide In this article we…
In this article we will discuss about benefits of filing itr and Who is required to do compulsory filing of ITR? In following cases filing of ITR is mandatory.Thus in following case compulsory…
Today we have explained taxation of gifts under Income Tax Act 1961 from relative. People are usually unaware of the taxation of the gifts which is most popular topic for…
We all know that under Income Tax Act 1961 agriculture income is exempt. Though if below two conditions are cumulatively satisfied then it is required to be included in computation…
Today we have discussed details of Trust registration as per Income Tax Act 1961.Section 12A of income tax act 1961 relates to Trust registration as per Income Tax Act 1961…
In this article we have discussed Interest and remuneration to partners as per Income Tax Act 1961.People are usually confused regarding income tax provision relating to payment of remuneration and…
1. Introduction Short term capital gain on sale of equity shares arises when listed equity shares, equity-oriented mutual fund units, or business-trust units are sold within 12 months of…
People are usually taking loans or deposits to run their business but should take care in acceptance or repayment of loan in cash.Hence many a times loans or deposits are…
Income Tax notices can be received due to number of reasons.In this article we will discuss common 7 Reasons for Income Tax notices.People as a responsible taxpayer always try to…
Doctors are most busiest professional. They are believed to be top 10 earner in the economy.As doctors are busy so they don't get time for referring Income Tax provisions.Hence in…