- Tuesday, December 8, 2009, 3:43
- Service Tax
- 1,695 views
The Finance Act, 2008 brought some new services under the Service Tax net. One of them is Information Technology Software Service. Inclusion of a new services category — Information Technology Software Services — within the ambit of Service Tax legislation has created confusion among software firms. The levy of this new service along with other services has become effective from 16 May, 2008.
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- Tuesday, December 8, 2009, 1:21
- Income Tax
- 698 views
People buy a second home for many reasons, which, inter-alia, include as an investment for capital appreciation; to use it as a holiday home; to get a regular stream of income by way of rentals; or to diversify their investment portfolio. Whatever be the reason, an important aspect to be considered at the planning stage is the tax implication of owning and maintaining the second home.
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- Monday, November 30, 2009, 2:01
- Income Tax Case Laws
- 235 views
The income in respect of a portion of the building, which has been taken on lease by the assessee from the owner of the land and thereafter subleased, cannot be taxed under the head `income from house property' but is to be taxed under the head `income from business'.
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- Monday, September 7, 2009, 0:44
- Income Tax
- 1,455 views
In general the perception is that income of Co–operative Societies is not chargeable to tax and therefore many societies do not bother to take PAN No. & file Income Tax returns. This is a wrong perception since though certain types of income of CHS are exempt there are other incomes which are chargeable to Tax.
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