Manager

Deduction under Section 43B of the Income Tax Act 2 min read

• Income Tax

Deduction under Section 43B of the Income Tax Act

Manager 9 years ago

A deduction which is otherwise allowed as per the provisions of the Income Tax Act regarding — a)   Any amount which is payable by... Read More

Medical reimbursement paid to employees is not part of salary and no TDS can be charged upon it 2 min read

• Income Tax

Medical reimbursement paid to employees is not part of salary and no TDS can be charged upon it

Manager 9 years ago

The Income Tax Appellate Tribunal in the Assistant Commissioner of Income Tax (TDS) vs. M/s. SAP Labs India Pvt. Ltd. being ITA Nos.1414 to 1416/Bang/2012... Read More

Tax implications of Life Insurance policies 2 min read

• Income Tax

Tax implications of Life Insurance policies

Manager 9 years ago

Many people have an idea that benefits received from the maturity of life insurance policies are tax-free. But it is not always true as all... Read More

How to file the income tax return of a deceased assessee? 4 min read

• Income Tax

How to file the income tax return of a deceased assessee?

Manager 9 years ago

If an assessee dies intestate, that is without making a will, his return of income tax can still be filed by his legal heirs and... Read More

All about capital gains tax 4 min read

• Income Tax

All about capital gains tax

Manager 9 years ago

There are many assets such as real estate, gold, silver, etc. in which one invests. The gains from these investments are called capital gains. These... Read More

Taxability of income from shares 3 min read

• Income Tax

Taxability of income from shares

Manager 9 years ago

Many people have an idea that the income received from shares is exempt from income tax. But in reality it is not so. One should... Read More

Capital Gain on depreciable assets held for more than three years should be treated as long term capital gain for determining the rate of tax 4 min read

• Income Tax

Capital Gain on depreciable assets held for more than three years should be treated as long term capital gain for determining the rate of tax

Manager 9 years ago

Recently in the case of M/s. Smita Conductors Ltd. vs. the Deputy Commissioner of Income Tax, ITA No. 4004/Mum/2011 by a judgment it has been... Read More

Rules for arrest and bail relating to offences as provided in the Finance Act, 2013 2 min read

• Income Tax

Rules for arrest and bail relating to offences as provided in the Finance Act, 2013

Manager 9 years ago

Recently some circulars have been issued regarding the amendments introduced by the Finance Act, 2013, for offences punishable under the provisions of Service Tax, Central... Read More

Procedure of calculating Wealth Tax 2 min read

• Income Tax

Procedure of calculating Wealth Tax

Manager 9 years ago

Procedure of calculating Wealth Tax Wealth tax is not payable on income but payable only because a person is wealthy. Wealth tax is levied when... Read More

Denial of benefit of set off of the speculation loss and explanation to section 73 of Income Tax Act, 1971 2 min read

• Income Tax

Denial of benefit of set off of the speculation loss and explanation to section 73 of Income Tax Act, 1971

Manager 9 years ago

Every year, Income tax return registration and filing of ITR return online or offline is a practice followed both by companies and individuals. An important... Read More