Sourav

Check out the negatives and misses in the Union Budget 2017 4 min read

• Income Tax

Check out the negatives and misses in the Union Budget 2017

Sourav 8 years ago

It was the only and the first budget ever in the history of independent India to be presented on the 1st February. Finance Minister Shri Arun... Read More

Income Tax Exemption to Patanjali – The final nail into FMCG’s coffin 3 min read

• Income Tax

Income Tax Exemption to Patanjali – The final nail into FMCG’s coffin

Sourav 8 years ago

This would be the last nail in the coffin for FMCG (Fast Moving Consumer Goods) sector that has already been suffering from demonetisation side effects. The... Read More

How to claim tax relief under section 89(1) for salary arrears 3 min read

• Income Tax

How to claim tax relief under section 89(1) for salary arrears

Sourav 8 years ago

Tax is computed on the salary which is received during the year. Sometimes the employee receives the salary in arrears or advance. When the salary is received from the employer... Read More

What Union Bugdet 2017 has in store as Income Tax Benefits for Startup community 2 min read

• Income Tax

What Union Bugdet 2017 has in store as Income Tax Benefits for Startup community

Sourav 8 years ago

The government of India has taken several moves to boost the Startup ecosystem in India since 16 January’2016 (launching of the Startup India Campaign). On... Read More

Receipt of share premium can’t be assessed as unexplained credit where the transaction, identity of the payer and capacity of the subscriber are genuine 3 min read

• Income Tax

Receipt of share premium can’t be assessed as unexplained credit where the transaction, identity of the payer and capacity of the subscriber are genuine

Sourav 8 years ago

As per section 68 of the Income Tax Act, if the shares are issued at the premium which defies commercial prudence, the receipt of such... Read More

Extension on exemption for capital gains on Rupee Denominated Bonds 2 min read

• Income Tax

Extension on exemption for capital gains on Rupee Denominated Bonds

Sourav 8 years ago

The offshore Rupee denominated bonds, generally known as the masala bonds, got a tax benefit when the government during the Budget 2017 exempted them from... Read More

Reasons to believe for conducting a search & seizure not to be disclosed 2 min read

• Income Tax

Reasons to believe for conducting a search & seizure not to be disclosed

Sourav 8 years ago

Sub-section (1) and Sub-Section (1A) of section 132 of the Income Tax Act, 1961 provides that where the authority stated therein, depending on the information in his... Read More

How change in base year of Indexation will affect your income from capital gains 3 min read

• Income Tax

How change in base year of Indexation will affect your income from capital gains

Sourav 8 years ago

Capital gains on transfer of capital assets including immovable property may decline after the announcement of change in base year of Indexation from 1981 to 2001... Read More

The Highs and Lows of the Union Budget 2017 3 min read

• Income Tax

The Highs and Lows of the Union Budget 2017

Sourav 8 years ago

India’s 2017 budget brings a hike in government spending and reduces taxes as Prime Minister Narendra Modi assures to help the deprived and the poor... Read More

Overview of GST Tax Structure, Returns & Penal Provisions 4 min read

• GST

Overview of GST Tax Structure, Returns & Penal Provisions

Sourav 8 years ago

In this article, we will try to understand the draft model of GST that could be modified in.  It is important for us to understand... Read More