Learn about India’s innovative approach to resolve consumer disputes by utilizing the Consumer Welfare Fund to cover mediator fees. Enhancing consumer welfare through cost-effective mediation.
Read how CBDT’s Notification No. 58/2023 amends Income-tax Rules, extending Safe Harbour rules to AY 2023-24. Insights from Ministry of Finance, New Delhi.
ICAI announces ISA Assessment Test results likely to be released on late evening of 7th August 2023 or early morning of 8th August 2023. Check on icai.org.
Recommendations of 51st GST Council Meeting GST Council recommends certain amendments in CGST Act 2017 and IGST Act 2017, including amendment in Schedule III of CGST Act, 2017, to provide clarity on taxation of supplies in casinos, horse racing and online gaming GST Council also recommends inserting a specific provision in IGST Act, 2017 to […]
The Income Tax Department records a new milestone with over 6.77 crore ITRs filed for AY 2023-24 by July 31, 2023, showing a 16.1% YoY growth.
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.
Understand taxability of various salary components, allowances, perquisites, and retirement benefits in India. Learn about exemptions and deductions to optimize your tax planning.
