Income Tax

NRI liable to pay Income Tax on the income earned in India 2 min read

• Income Tax

NRI liable to pay Income Tax on the income earned in India

9 years ago

According to the Income Tax Act, 1961 a non-resident Indian is defined as any person who is an Indian citizen or a person having an... Read More

Fate of Unexplained Income under the Income Tax Act 2 min read

• Income Tax

Fate of Unexplained Income under the Income Tax Act

9 years ago

Fate of Unexplained Income under the Income Tax Act Fate of Unexplained Income under the Income Tax Act What is Undeclared or Unexplained Income? It... Read More

The new Companies Bill aims to put a check upon the “Vanishing Companies” 2 min read

• Income Tax

The new Companies Bill aims to put a check upon the “Vanishing Companies”

9 years ago

The new Companies Bill seeks to promote class-action suits for corporate frauds. The bill has been passed by the Lok Sabha  in the year 2012. The... Read More

Should tax be imposed on Agricultural income in India? 2 min read

• Income Tax

Should tax be imposed on Agricultural income in India?

9 years ago

Agriculture income is exempt from income tax in India under the provisions of the Income Tax Act. It means that income earned by means of... Read More

Insurance Scenario in India 2 min read

• Income Tax

Insurance Scenario in India

9 years ago

With over a billion people, India is fast becoming a global economic power. With a relatively youthful population, India will become an attractive insurance market... Read More

Service Tax On Rented Immovable Property 2 min read

• Income Tax

Service Tax On Rented Immovable Property

9 years ago

“Immovable property” as defined in section 65 of the of Finance Act, 1994 as amended: According to section 65 “Immovable property” means the following –... Read More

Deductions u/s 80 for Salaried employees under Indian Income Tax 8 min read

• Income Tax

Deductions u/s 80 for Salaried employees under Indian Income Tax

Aditijh 9 years ago

The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions there from may... Read More

Deductions u/s 80 for Salaried employees under Indian Income Tax 8 min read

• Income Tax

Deductions u/s 80 for Salaried employees under Indian Income Tax

Aditijh 9 years ago

The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions there from may... Read More

Capital gains tax rates 2 min read

• Income Tax

Capital gains tax rates

9 years ago

Depending upon the type of capital assets you have made investment in the tax rates of your capital gains are decided. There are few investments... 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