Understand the taxability of Futures and Options (F&O) business income under the Income Tax Act, 1961. Learn about treating F&O income as business income, taxation of profits and losses, applicability of tax audit, reporting in Income Tax Return (ITR), and deductions. Explore the concept of turnover in F&O trading with an example, and know the criteria for tax audit based on turnover. Get insights on calculating turnover for futures and options trading and consult a chartered accountant for accurate turnover calculation.
Discover why choosing a Private Limited Company is a preferred option for raising funds in a startup business. Learn about equity issuance, investor attraction, employee stock options (ESOPs), perpetual existence, legal protection, and corporate governance. Compare examples of fundraising scenarios between a Private Limited Company and a Limited Liability Partnership (LLP) to understand the advantages and considerations for each structure.
Explore legal ways for business owners in India to save income tax. Learn about deductions, investment incentives, R&D benefits, capital gains strategies, and more. Consult experts for personalized tax planning.
Confused about whether to buy a house or rent in India Evaluate costs, tax benefits, financial stability, lifestyle preferences, and more for an informed decision. Expert analysis helps you understand the tax implications, affordability, and flexibility associated with each option.
Learn how to save capital gains tax on the sale of equity shares in India under Section 54F of the Income Tax Act. Discover eligibility criteria, investment requirements, and the calculation of tax exemptions. Get expert insights for effective tax planning.
CMA Data, short for Credit Monitoring Arrangement Data, is a comprehensive financial statement that provides a detailed analysis of a borrower’s financial standing.
Govt exempt individual payments made through international debit or credit cards up to Rs 7 lakh per financial year from LRS limits & these transactions will not attract TCS.
CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities In the Finance Act, 2023, an amendment has been introduced to bring the consideration received from non-residents for issue of shares within the ambit of section 56(2)(viib) of the Income-tax Act, 1961(the Act), which provides that if such […]
Goods and Services Tax (GST) Act, 2017 is a landmark legislation that has the potential to transform the Indian economy. The Act has been hailed as a major step towards economic integration and simplification of the tax regime. However, there are some challenges that need to be addressed in order to ensure the success of the GST regime.
DEN Networks Limited Vs State of Bihar (Patna High Court) HC held that We have to reiterate that the inconsistent provisions in the Bihar State legislations which were sought to be continued for one year or till the amendment or repeal by the respective State Legislatures, by virtue of Section 19 of the 101st Amendment, […]
