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Concept and Tax effect of Switching in Mutual Funds

Income Tax : Article explains What is Switching, Benefits of Switching, Tax effect of Switching If the units are held as stock-in-trade and Tax...

June 6, 2020 99470 Views 10 comments Print

How to Calculate Tax on Agricultural income

Income Tax : Agricultural income is exempt from Income Tax under section 10(1) of the Income Tax Act, 1961. However, its included, for rate pur...

March 18, 2020 683751 Views 47 comments Print

Form 26AS with respect to TDS: Knowhow

Income Tax : Form 26AS is, in essence, an acknowledgement of sorts when it comes to Tax Deducted at Source (TDS). Which is to say that Form 26A...

July 20, 2018 131450 Views 47 comments Print

Support Nation, Support our PM Narendra Modi

Fema / RBI : Terrorism and ugly politics, funded by black money, are a cancer for India and PM Narendra Modi is the only Doctor who can cure it...

November 16, 2016 7804 Views 47 comments Print

Taxation in Dubai

Income Tax : Let’s dream, let’s take a breather, let’s talk about Taxation in Dubai Dubai, one of the Seven Emirates that together form U...

June 2, 2015 15820 Views 0 comment Print


Latest News


ISA Assessment Test (DISA) Registration started for June 2015 Exam

CA, CS, CMA : All those who are gearing up for ISA Assessment Test (DISA), registrations for the Assessment Test to be held in June 2015 have st...

May 23, 2015 4146 Views 0 comment Print


Opening a BPO?, OSP registration is what you require among others….

May 20, 2015 1403 Views 0 comment Print

In order to open a BPO and commence the respective operations, one is required to get registered as Other Service Provider (OSP) with Department of Telecommunications. This registration is location specific i.e. a change in location of your BPO might require an alteration in the original registration. Plus you will require separate registrations in case […]

Opening an account under Capital Gain Scheme 1988

May 20, 2015 1217 Views 0 comment Print

You’ve had a Long Term Capital Gain under the respective Section(s) of the Income Tax Act. Now, you must be wondering as to how you will save yourself from the Tax liability arising as a result of Capital Gain. Well, in order to save tax on Capital Gains, you might be required to do the […]

Fees u/s 234E held as constitutionally valid, will still missing….

May 19, 2015 4822 Views 1 comment Print

Recently, in the case of Rashmikant Kundalia and another vs Union of India and others, the constitutional validity of the fees being charged u/s 234E for delay in filing TDS returns was upheld by the Court of law, which primarily observed, that fees being charged for delay in filing of returns is in the nature […]

High circle rates, low property prices and hardship continues…

May 14, 2015 4289 Views 7 comments Print

And our hardship w.r.t. Delhi property Circle rate continues its surge, thanks to Delhi Government and to the Income Tax Act Property transactions are undertaken for various purposes viz. investment, trading, distress etc. However, a transaction in property may lead to gain for some and loss for some but the Circle rates in Delhi in […]

Integration of Form 26AS for improved compliance with Income Tax Act in India

April 15, 2015 1931 Views 0 comment Print

Many a times it has been seen that assesses, to whom Deductions under the Act are available, avail of such deductions without actually making the respective investments or complying with the preconditions. Such acts are committed because in most cases these claims are not verified by the Income Tax authorities.

Form 26AS, it’s worth the effort, check it!

April 1, 2015 8973 Views 2 comments Print

This article is primarily meant for interest earners wherein they earn interest income from Fixed deposits and etc. other interest bearing instruments. While putting money in Fixed deposits and etc. other interest bearing instruments, quite some number of us do not give a duly filled and signed Form 15G for lower/non-deduction of Tax Deducted at […]

CIBIL TransUnion conundrum, cleared

March 16, 2015 1833 Views 0 comment Print

CIBIL TransUnion score, a puzzle for many and hassle for some, cleared!!!! CIBIL stands for Credit Information Bureau (India) Limited, which, in association with Dun & Bradstreet and TransUnion provides information w.r.t. a person’s credit discipline to financial institutions looking forward to sanction loans and/or issue Credit cards.

Flexibility in pricing of Shares, issued to Non-residents- Clarity still missing!

March 2, 2015 3556 Views 0 comment Print

In case of unlisted Indian Companies issuing Shares to Non-residents, issue price should not be less than the Fair Value of Shares determined by a Chartered Accountant as per Discounted Free Cash Flow (DCF) Method. This was the stance as per RBI Master Circular No. 15/2013-14 which says Price of fresh shares issued to persons resident outside India under the FDI Scheme, shall be :

We the people or we the sitting Ducks

February 22, 2015 501 Views 0 comment Print

Almost all of us go for family outings every now and then and one of the most important activities, without which an outing is not complete, is having a meal at a nice Restaurant. However, it’s the ‘RESTAURANT’S BILL’ which acts as a party spoiler due to the respective taxes and charges applied therein. Thus, […]

Fast Track Exit mode for Defunct Companies

February 9, 2015 30497 Views 0 comment Print

Fast Track Exit mode for Defunct Companies under section 560 of Companies Act 1956 A number of Companies registered under the Companies Act 1956 are inoperative since incorporation or commenced business but became inoperative or defunct later on due various reasons. Thus, the Registrar of Companies, under section 560 of the Companies Act 1956, may […]

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