House Rent Deduction in Income tax
House Rent Deduction in Income Tax
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 Cash Deposit Limit in Savings Account as per Income Tax: A Comprehensive Guide In this article we…
6 top benefits of filing ITR|Who is required to do compulsory filing of ITR?
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…
Taxation of gifts under Income Tax Act 1961
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…
Calculation of tax on agriculture income as per Income Tax Act 1961
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…
Trust registration as per Income Tax Act 1961
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…
Interest and remuneration to partners 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…
Short term capital gain on sale of equity shares
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…
Acceptance or repayment of loan in cash
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…
7 Reasons for Income Tax notices
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…
Taxation of professional fees of doctors
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…
School Fees Deduction Under Income Tax Act 1961
Huge amount is incurred tuition fees expenses of the children by parents. Tax deduction is available under income tax for amount paid of tuition fees under Income Tax Act 1961…
Process for 15CA and 15CB
1.Form 15CA and Form 15CB Compliance under Section 195 of the Income Tax Act In this article we have provided process for 15CA and 15CB compliance under Section 195 of…
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