Income Tax

Higher Tax deduction rate for Short term capital gains 2 min read

• Income Tax

Higher Tax deduction rate for Short term capital gains

Rajbir Chawla 8 years ago

The section 111A of the income tax act 1961, lays down the provision for Tax Deduction Rate for short term capital gains. Definition of short... Read More

Usual Tricks to Convert Black Money into White Legal Money 3 min read

• Income Tax

Usual Tricks to Convert Black Money into White Legal Money

Skumar 8 years ago

Some Common Tricks to Convert Black Money in White Money The growth of unaccounted money or black money has resulted in the creation of a... Read More

No addition under section 68 if one can prove the authenticity of a transaction 4 min read

• Income Tax

No addition under section 68 if one can prove the authenticity of a transaction

Manager 8 years ago

Prove Authenticity of Transaction to avoid Addition under Section 68 The Delhi High Court in the case of Commissioner of Income Tax vs. Gangeshwari Metal... Read More

Computation of Income Tax Liability under Different heads of Income- A Beginners Guide 4 min read

• Income Tax

Computation of Income Tax Liability under Different heads of Income- A Beginners Guide

Sourav 8 years ago

Understanding Computation of Income Tax Liability As per the Income Tax Act, Income is classified under five different heads. In every financial year, either the... Read More

Penalties for Tax Evasion in India 5 min read

• Income Tax

Penalties for Tax Evasion in India

Akanksha 8 years ago

Introduction to Tax Evasion Tax evasion refers to any attempt to avoid payment of taxes by using illegal means. Some of the common forms of... Read More

Mistakes while depositing demonetized notes that will lead to scrutiny of Income Tax Return 4 min read

• Income Tax

Mistakes while depositing demonetized notes that will lead to scrutiny of Income Tax Return

Akanksha 8 years ago

The announcement made by PM Narendra Modi to demonetise Rs 500 and Rs 1,000 notes has led to panic in India. Everyone is rushing towards... Read More

Income Tax Amendment Bill for demonetized black money 3 min read

• Income Tax

Income Tax Amendment Bill for demonetized black money

Akanksha 8 years ago

Following the announcement of declaring specified bank notes “as not legal tender”, it is felt that instead of allowing people to find illegal ways of... Read More

5 Methods for NRIs to get their Old Demonetized Currency Exchanged 3 min read

• Income Tax

5 Methods for NRIs to get their Old Demonetized Currency Exchanged

Akanksha 8 years ago

Demonetization of Rs. 500 and Rs. 1,000 currency notes has not only taken the Indian citizens by surprise but also created quite a situation for... Read More

Black money conversion – talk of the town- Is your method fool proof 7 min read

• Income Tax

Black money conversion – talk of the town- Is your method fool proof

Akanksha 8 years ago

Black money is basically the money that has not gone under the scrutiny of the tax department and somehow has been kept aloof from money... Read More

Beware of the myth – deposit of Rs 2.5 lacs Cash in Bank Account may not be safe 3 min read

• Income Tax

Beware of the myth – deposit of Rs 2.5 lacs Cash in Bank Account may not be safe

Manager 8 years ago 7

As the Notes of denominations of Rs 500 and Rs 1000 stand withdrawn from the market, everybody is rushing to the banks to deposit or... Read More