Taxing Profit or Loss for Trading in Futures and Options
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
Income Tax
- Your guide to understanding and filing income tax returns.
- Simplify your tax filing process with expert advice.
- Learn about the different types of income tax, including individual income tax, corporate income tax, and more. Understand the income tax slabs, deductions, and exemptions applicable to various income sources.
- Get expert advice on tax planning and saving strategies to minimize your tax liability. Learn how to file your income tax return accurately and on time, avoiding penalties and interest charges.
- Stay up-to-date with the latest income tax news, circulars, and notifications. Access useful tools like income tax calculators, TDS calculators, and form 16 download links.
Different Kinds of Tax Terrorism in India
3 min read
Well, no one likes to pay taxes, and there has to be some stern action against the defaulters has to be done. Also, some erring... Read More
Warning against cash dealings of Rs 2 lakh: Income Tax department
The Income Tax Department has given a warning to people so as not to indulge in any cash transaction that involves Rs 2 lakhs or... Read More
The Case of Earthmoving Equipment Service Corporation vs. DCIT
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
A trust which is solely for the benefit on an individual could claim deduction under section 54F
3 min read
The Issue arose before the ITAT is that whether the assessee trust, which is only for the benefit of an individual, will be eligible to... Read More
Bombay HC: TDS On Salaries Will Not Be Reimbursed Under Secondment Agreement
In a new ruling that has gained significance in the recent times, the Bombay High Court will hold the salary payment under the secondment agreement... Read More
Filing Form No 61A for statement of financial transactions wef 1st April 2016 : The Latest Requirement
To keep an eye on the high valued transactions made by the taxpayers, the new law has been framed by the Income Tax department where... Read More
The case of Godrej & Boyce vs. CIT (Supreme Court)
In the judgment given by the Bombay High Court for Godrej & Boyce vs. CIT 328 ITR 81 (Bom), The Supreme Court of India needed... Read More
Law on Benefit Available for Cost of House Acquired Despite Non-payment
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
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
Reporting of Foreign Assets by Indian Taxpayers under Section 139(1) of the Income Tax Act 
Major Changes Expected in Direct Tax Code 2025 and why these matter 
Can an assessee pay House Rent to his parents and claim relief? Would there be any legal complications? 
Boost Your Business & Reduce Taxes: A Guide to Maximizing Benefits Under Section 80JJAA