Income Tax - Page 10

Tax on Long Term Capital Gain under Income Tax Act, 1961

The Article Discusses about Tax Treatment of Long Term Capital Gain arising from Transfer of Capital Assets under Income Tax Act, 1961. Articles discusses Meaning of Capital Assets, What Constitutes a Capital and what is not a capital Asset, How to Apply Indexation Provisions, Period for Computation of Long Term Capital Asset, Tax on lon...

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Income Tax on Revenue From YouTube

YouTube video blogging, popularly known as vlogging has reached at the peak of its popularity by now. The trend of googling for a content has shifted to you tube search. Many budding vloggers are making money from YouTube. However most of them are not aware of the tax implications. Let’s try to explore this in […]...

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Section 54F: Reinvestment in name of wife allowed but not in the name of son

Sakharam Bhondve Vs ITO (ITAT Pune)

Sakharam Bhondve Vs ITO (ITAT Pune) The issue under consideration is whether the deduction u/s 54F for reinvestment against Capital gain in the name of wife and son will be allowed or not? As per the judgement of the Hon’ble Bombay High Court in the case of Kamal Wahal (supra): “It also noted that a […]...

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ITAT upheld addition for Tax Evasion by misuse of Client Code Modification

Nirmala Devi Vs ITO (ITAT Delhi)

Nirmala Devi Vs ITO (ITAT Delhi) In the given case, the Investigation Directorate, Ahmedabad carried out survey u/s 133(A) to examine the misuse of Client Code Modification for tax evasion. The client code of the assessee was SS 493 & as per the Assessing Officer the error by the operator could be in the form […]...

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Depreciation @ 60% allowable on Set Top Boxes acquired on Finance Lease

Fastway Transmission (P) Ltd. Vs ACIT (ITAT Chandigarh)

Fastway Transmission (P) Ltd. Vs ACIT (ITAT Chandigarh) Conclusion: Set top boxes was the property of CISCO which was taken by assessee on lease from CISCO against payment of lease charges thus assessee was not entitled to claim the principal component of alleged lease rent paid as ‘revenue expenditure’ u/s 37(1) however, entitled to ...

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Transfer Pricing Audit Applicability in India

Article explains Section 92 of the Income Tax Act, 1961 related to Computation of income from international transaction having regard to arm’s length price,  Meaning of Associated Enterprise under section 92A, Meaning of international transaction under Section 92B, Audit under the Transfer Pricing under Section 92E and Report from ...

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Section 269SU Acceptance of payment through electronic modes

Section 269SU has been introduced by the government under Income Tax Act with an intention to promote cashless economy and digital mode of accepting payment. Section 269SU prescribes for accepting payment through certain electronic modes as prescribed in addition to other electronic modes. This article is a detailed discussion on Section ...

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Formation of Start up in India | Definition & Tax Benefits

Start up is the policy measure of the government of India, Ministry of Commerce and Industry to give stimulus and boost to the Innovative Talents to set up the business. These start up needs to get registered with Department of Industrial Policy and Promotion (DIPP) which will grant them a certificate, if all the conditions […]...

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Slump Sale- Brief Analysis

Article explains Provisions of Slump Sale under the Companies Act, 2013 and Income Tax Act, 1961. It explains Slump Sale through Business Transfer Agreement (BTA), Slump Sale through Scheme of Arrangement, Stamp Duty Chargeable On Business Transfer Agreement. Article explains Sections which deal with Slump sale, Definition of Slump sale, ...

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Impact of Budget on removal of DDT on Corporates & Investors

Budget 2020 has proposed to make dividend income from shares and mutual funds taxable in the hands of the recipient at the applicable income tax slab rates to the individual and abolish the Dividend Distribution Tax levied on dividend income from distribution by the company or mutual funds house. India currently levies Dividend Distributi...

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Latest Income Tax News

Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.

Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.

Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars.

At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.

Find all the latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning work plan. We keep updating our portal regularly so that you don’t miss out on anything.