Rebecca Ghomes

How To Deduct TDS on Property Sale u/s 194IA? 2 min read

• Income Tax

How To Deduct TDS on Property Sale u/s 194IA?

Rebecca Ghomes 8 years ago

TDS on property sale is a very good method of controlling the developments in the real estate sector. Last few years, there has been a... Read More

Conversion of Land into Stock in Trade: The Case of Jehangir HC Jehangir vs. ACIT 3 min read

• Income Tax

Conversion of Land into Stock in Trade: The Case of Jehangir HC Jehangir vs. ACIT

Rebecca Ghomes 8 years ago

The assessee owned a portion of land in Shivaji Nagar, Pune. The land was occupied by a bungalow, a tenanted bungalow, a garage and two... Read More

Use accounting tricks and save your hard-earned money from paying taxes 3 min read

• Income Tax

Use accounting tricks and save your hard-earned money from paying taxes

Rebecca Ghomes 8 years ago

The world of finance is now full of illegal trading and sharing of information between the wealthy. It is not good to be rich! Rich... Read More

Playing in stock market? Know your options for filing returns 3 min read

• Income Tax

Playing in stock market? Know your options for filing returns

Rebecca Ghomes 8 years ago

When you are working at a firm for a fixed salary, filing tax returns can pose a problem if you have engaged yourself in playing... Read More

Income Tax Liability on Profit or Loss for Trading in Futures and Options 3 min read

• Income Tax

Income Tax Liability on Profit or Loss for Trading in Futures and Options

Rebecca Ghomes 8 years ago

It always confuses taxpayers on the procedures of filing tax returns against any income generated from the trading in Futures and Options. Income tax on... Read More

Levy of Penalty under section 272A(2)(K)- The Case of Argus Golden Trades India Ltd vs. JCIT (ITAT Jaipur) 3 min read

• Income Tax

Levy of Penalty under section 272A(2)(K)- The Case of Argus Golden Trades India Ltd vs. JCIT (ITAT Jaipur)

Rebecca Ghomes 8 years ago

Penalty under section 272A(2)(K)- A judicial interpretation- What penalties were levied? Penalty under section 272A(2)(K) had been levied . This stated that a copy of... Read More

Taxing Profit or Loss for Trading in Futures and Options 3 min read

• Income Tax

Taxing Profit or Loss for Trading in Futures and Options

Rebecca Ghomes 8 years ago

It always confuses taxpayers on the procedures of filing tax returns against any income generated from the trading in Futures and Options. Income tax on... Read More

The Case of Earthmoving Equipment Service Corporation vs. DCIT 3 min read

• Income Tax

The Case of Earthmoving Equipment Service Corporation vs. DCIT

Rebecca Ghomes 8 years ago

According to 69c if transactions are done through banks and are disclosed duly, then any bogus purchases can never be treated as unexplained expenditure. Levy of... Read More

Law on Benefit Available for Cost of House Acquired Despite Non-payment 3 min read

• Income Tax

Law on Benefit Available for Cost of House Acquired Despite Non-payment

Rebecca Ghomes 8 years ago

When you sell any long term capital asset, there are huge gains which are to be taxed at a rate of 20%. Now the gain... Read More

How can you get tax exemption u/s 54 of Income Tax Act on sale of long term capital asset? 3 min read

• Income Tax

How can you get tax exemption u/s 54 of Income Tax Act on sale of long term capital asset?

Rebecca Ghomes 8 years ago

When you sell any long term capital asset, there may be Capital gains which are liable to be taxed at a rate of 20%. Now the gain... Read More