Commissioner of Central Excise Vs M/s Grasim Industries Ltd. (Supreme Court of India) It was held that measure of the levy contemplated in Section 4 of the Act will not be controlled by the nature of the levy. So long a reasonable nexus is discernible between the measure and the nature of the levy both […]
GET AADHAAR FOR YOUR TODDLE. SOONER THE BETTER. To locate your nearest Enrolment Centre, call: 1947 or log on to: https://resident.uadai.net.in/ Even a newborn can be enrolled for Aadhaar. Get your child enrolled today. ♦ Aadhaar makes it easy to access many government benefits, such as vaccinations, health benefits, school admission and scholarships ♦ For […]
Salary income is taxable in the hands of an individual in the year of receipt or earning of salary income, whichever is earlier. Here are some of the safe components of your salary structure which can minimse your tax burden and help you plan your Salary Structure –
Tax Planning is an important agenda of any individual. People often end up paying taxes even after exhausting their limits under Section 80C, 80 D and so on. However, do you know that a very important tool which is often overlooked, is formation of a HUF, which is a legitimate way of reducing your tax liability.
Tax benefits of Home Loan- Overall there are two types of tax benefits that are available on the repayment of a housing loan. Interest paid on the loan is eligible for a deduction up to Rs. 1.5 lakh per annum from the taxable income of the individual under Sec 24 when the property is self-occupied or it is one ownership property lying vacant.
Finance Act, 2013 with a view to provide additional benefit towards interest paid by assessee against housing loan inserted a new section of deduction i.e Section 80EE w.e.f. 01.04.2014.However Certain amendment to this section was made via Finance Act 2017, i.e, Deduction in respect of interest on loan taken for residential house property. 80EE. (1) In […]
Import of Fresh Ginger wholly produced in Nepal, classified under Exim Code 0910 11 10, is ‘Free’ subject to Article IV & V of Indo-Nepal Treaty of Trade.
Restriction on import of Peas classified under Exim Code 0713 10 00 (including Yellow peas, Green peas, Dun peas and Kaspa peas) is extended for a further period of three months, i.e., till 30.09.2018.
Mahabir Industries Vs. PCIT (Supreme High Court) The assessee in the instant case has not got deduction under Section 80-IC for a period of ten years as he started claiming deduction under this provision w.e.f. Assessment Year 2006-07. Situation Nos. (b) and (c) mentioned above would not apply to the assessee as it’s undertaking/enterprise is […]
Notification No. 8/2018-Customs (N.T./CAA/DRI) In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E) dated 30th November 2015
