We have attached below the Excel file containing Income Tax calculator for Financial Year 2012-13 / Assessment year 2013-14 as modified by Finance Bill 2012 presented on 16th March 2012.

In any country the tax is levied based on 1) Source Rule and 2) the Residence Rule. The source rule holds that income is to be taxed in the country in which it originates irrespective of whether the income accrues to a resident or a non-resident whereas the residence rule stipulates that the power to tax should rest with the country in which the taxpayer resides.

CA Srikant Agarwal The exchange rate plays an important role on the whole financial economy of any country including Indian Economy. In the recent past Indian currency (i.e Rupee) has depreciated against all the major currencies (i.e US $, Pound sterling £ , Euro € and Yen ¥) of the world and has reached to [...]

We know that investment in residential property or Flats is one of the common investment avenue for individuals. Here we are trying to summarise the tax implication on sale of residential property and tax planning to save tax on the Capital Gain arising on the sale of such property.

WCT certificate need to be issued as per the requirement of respective state VAT Act. In the state of west Bengal WCT certificate need to be issued on monthly basis as per rule 47 of West Bengal VAT Rules 2005. We have prepared a Marco in excel which makes the task of preparing WCT certificate in form 18 much easier. Generally it takes around 5-8 minutes to prepare one certificate and need a lot of concentration to avoid any error.