Income Tax

What is the difference between a will and gift deed – pros and cons of both? 2 min read

• Income Tax

What is the difference between a will and gift deed – pros and cons of both?

9 years ago

Understanding the pros and cons between the two –Gift deed and Will, will help you to take the decision in a better way. If you... Read More

The Finance Bill to Include Share Premium in the Category of Income 2 min read

• Income Tax

The Finance Bill to Include Share Premium in the Category of Income

9 years ago

The Finance Bill 2012 seeks to make some important amendments in the Income Tax Act. An Analysis of the Bill shows that it tends to... 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

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

Section 73 of the Income Tax Act- carry forward/ adjustment of speculative losses 2 min read

• Income Tax

Section 73 of the Income Tax Act- carry forward/ adjustment of speculative losses

9 years ago

Section 73 of the Income Tax Act contains the provisions relating to carry forward and set off of losses arising from speculation business. The explanation... Read More

Indexed Cost of gifts has to be determined with reference to previous owner 4 min read

• Income Tax

Indexed Cost of gifts has to be determined with reference to previous owner

9 years ago

If you receive capital assets either by way of gift or by way of inheritance through a will from your dear ones, the liability towards... Read More

Partial Disbursement of Home Loan and Tax Benefits 3 min read

• Income Tax

Partial Disbursement of Home Loan and Tax Benefits

9 years ago

To understand the tax treatment of getting exemptions under home loan that have been partially received or disbursed by the bank, it is necessary to... Read More

The Income Tax Appellate Tribunal declares slump sale surplus as a capital gain 6 min read

• Income Tax

The Income Tax Appellate Tribunal declares slump sale surplus as a capital gain

9 years ago

One of the most fashionable trends of business in the present world of business is a transfer through slump sale. This kind of deals falls... Read More

Check EPF Balance Online 2 min read

• Income Tax

Check EPF Balance Online

9 years ago

In this hi-tech era, digitization has covered everything in financial market too. How can EPFO stay behind? Now, EPF investors can get all details of... Read More

All about Representative Assessee 3 min read

• Income Tax

All about Representative Assessee

9 years ago

Section 160 (1) (i) of the Income Tax Act deals with the term “Representative Assessee” for all purposes of assessment of income tax. It refers... Read More

Tax Payers now don’t have to succumb to Coercion and admit Undisclosed Income 2 min read

• Income Tax

Tax Payers now don’t have to succumb to Coercion and admit Undisclosed Income

9 years ago

Traditionally since ages Income Tax Officers have been harassing tax payers and coercing them to admit to undisclosed income.   Not any more now, Well,... Read More