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 bank account in a year as per income tax
Cash deposit limit in bank account in a year as per income tax Cash deposit limit in bank account in a year as per income tax I 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…
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
Short term capital gain on sale of equity shares means gain arising on sale of equity shares held for less than one year is taxable at 15% under section 111A…
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…