INCOME TAX SAVINGS THROUGH HOUSE PROPERTY Does your home, saving your income tax? Buying a house for self occupation can be biggest tax saving instrument. It saves your income tax… Read More
INCOME TAX CALCULATION – RESIDENTIAL STATUS Resident & Ordinary Resident Resident But not Ordinary Resident Non –Resident Residential Status of an Individual Based on the duration for which individual present… Read More
FAQ’s on Excise & its Registration Q1: What is Excise Duty? Excise duty is a tax which is charged on Manufacturer / Production of goods as well as from Importers… Read More
COMPLIANCES OF ONE PERSON COMPANY It was recommended in 2005, by the committee headed by Dr. JJ Irani. A one-person company is a company that has only one person its… Read More
EXPECTATIONS FROM - BUDGET 2015 As most of us are aware, the present government has come to power on agenda of development and controlling black money. Hence, budget proposal is… Read More
CAPITAL GAINS - EXEMPTION U/S 54, IN CASE OF INVESTMENT IN RESIDENTIAL HOUSE (CONSTRUCTION) House constructed by builder on behalf of assessee has to be considered for granting sec. 54F… Read More
ONLINE FILE INCOME TAX RETURNS After the introduction of Online Filing Income tax returns by the income tax department, it becomes very easy and simple task to file income… Read More
HIGHLIGHTS – DIRECT TAX PROPOSALS OF UNION BUDGET UNION BUDGET 2020 FEATURES The review of the budget is divided into two main categories: (a) Direct Tax (b) Indirect Tax, with… Read More
NO REVISION BY CIT TO MAKE SEC. 68 ADDITION IF AO HAD OBTAINED CONFIRMATION OF PARTIES IN SUPPORT OF RECEIPTS/PAYMENTS Section 68, read with section 263, of the Income-tax… Read More
CAPITAL INTRODUCED BY PARTNERS IN THE FIRM COULDN'T BE DEEMED AS LOAN TO INVOKE PROVISIONS OF SEC. 269SS Section 269SS, read with section 271D, of the Income-tax Act, 1961 -… Read More