Understand Section 194-IA on TDS for property purchases. Learn tax deduction, rates, conditions, and compliance under the Income Tax Act, 1961.
Learn about taxable incomes under Income from Other Sources with provisions, deductions, and exceptions. Stay updated on tax guidelines.
Computation of capital gain depends upon the nature of the capital asset transferred during the previous year, vis-à-vis, short-term capital asset, long-term capital asset or depreciable asset. Capital gain arising on transfer of short-term capital asset or depreciable asset is considered as short-term capital gain, whereas transfer of long-term capital asset gives rise to long-term capital gain.
In this Article we have discussed briefly Different Provisions Applicable to Income from Business and Profession at one place. In coming articles we will also discuss Income Tax provisions related to Capital Gain & Income from Other Sources.
Learn how to compute income from house property with deductions under Section 22, 24, and 80EEA. Understand gross annual value, municipal taxes, standard deduction, and interest on borrowed capital. Find out about co-owners and deemed owners in this comprehensive guide.
ITAT Mumbai finds the reopening of Allied Engineers’ assessment invalid, ruling the addition of alleged bogus purchases unjustified. Case closed.
ITAT Chennai overturns addition of Rs. 28.57 Lacs for cash deposits by Gouthamchand Jain, ruling the source as valid and directing a reassessment.
The court found that the delay was not intentional but resulted from the notices being uploaded online without hard copies being served. Considering these factors and the submission that the delay was due to bona fide reasons, the High Court decided to condone the delay.
Calcutta High Court sets aside ITAT order in Mirabelle Tradecom case, allowing the assessee another opportunity to contest the matter. Read the case details.
Private companies must dematerialise shares by 30 Sep 2024 under new MCA rules. Penalties for non-compliance include fines and restrictions on securities.
