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India Sources of Funds – Exploring a few modalities for EB5 Applicants with Incomes-Assets in India

Fema / RBI : Explore methods for Indian EB5 applicants to source funds, including HUF, stocks, property, and overseas assets, and navigate asso...

May 13, 2025 492 Views 0 comment Print

TDS and TCS Rates for Financial Year 2025-26

Income Tax : Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections ...

April 21, 2025 48564 Views 1 comment Print

Section 44AD: Computation of Business Income on Presumptive basis

Income Tax : Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for...

April 7, 2025 1710 Views 0 comment Print

Understanding HRA, TDS, and Income tax notices: Analysis

Income Tax : Learn about HRA claims, TDS obligations on rent, and why taxpayers are receiving tax notices. Understand compliance steps to avoid...

April 4, 2025 5985 Views 2 comments Print

Concept of HUF And It’s Taxation Under Income Tax Law

Income Tax : Introduction A Hindu Undivided Family (HUF) is a distinct legal entity recognized by the Indian tax system. It is essentially a fa...

November 18, 2024 21849 Views 0 comment Print


Latest News


Impact of Supreme Court Judgement On HUF Tax Benefits

Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...

February 12, 2025 1251 Views 0 comment Print

Concerns on Corporate Tax, MSME Deductions, GST Rates

CA, CS, CMA : Explore recent updates on corporate tax rates, MSME concerns over tax deductions, and GST rates for shawls as addressed in Lok Sab...

August 5, 2024 444 Views 0 comment Print

Affidavit must for gift in kind, over Rs. 50,000, from relatives

Income Tax : From now on, when you get a gift in kind, valued at more than Rs. 50,000, from your parents or other relatives, make sure you have...

October 23, 2009 4567 Views 0 comment Print

Revised procedure for acceptance of address proof alongwith PAN application

Income Tax : While accepting “Application for allotment of PAN (Form 49A)” if both the addresses (residence and office) are mentioned in th...

October 16, 2009 2527 Views 0 comment Print

Post Office Deposit now Eligible for Deduction Under Section 80C

Income Tax : Section 80C of the Income-tax Act provides for a deduction of up to Rs. One lakh to an individual or a Hindu undivided family (HUF...

December 29, 2007 7440 Views 0 comment Print


Latest Judiciary


ITAT Surat Directs Re-examination of Tax on Gift from HUF

Income Tax : ITAT Surat remands case to CIT(A) for fresh adjudication on HUF gift taxability under Section 56(2)(vii) of the Income Tax Act, ci...

March 9, 2025 402 Views 0 comment Print

Belated appeal before CIT(A) dismissed without an opportunity of being heard not justified

Income Tax : ITAT Bangalore held that dismissal of appeal by CIT(A) merely because the same was filed belatedly not justified as CIT(A) failed ...

November 30, 2024 696 Views 0 comment Print

Tax Liability on Capital Gains Arises in Year of Possession, Not Occupancy Certificate

Income Tax : Liability to capital gains had not arisen in the assessment year 2017-18 as occupancy certificate was received on 01/02/2017 for c...

September 24, 2024 1302 Views 0 comment Print

Capital Gains from CCL International Shares is genuine: ITAT Delhi

Income Tax : Read the detailed analysis of ITAT Delhi's order regarding capital gains earned from the sale of CCL International shares. ITAT de...

May 12, 2024 678 Views 0 comment Print

Demonetization Deposits Not Subject to Section 69A addition if Source Explained

Income Tax : In the Satishbhai Kadvabhai Sarvaiya Vs ITO case, ITAT Rajkot rules that during demonetization, deposits don't warrant addition un...

May 9, 2024 1608 Views 0 comment Print


Latest Notifications


Public Provident Fund Scheme, 1968 Amendment to Section 9(3) of Scheme

Fema / RBI, Finance, Income Tax : Provided further that an account opened on behalf of a Hindu Undivided Family prior to the 13th day of May, 2005, shall be closed ...

December 27, 2010 3431 Views 1 comment Print

CBDT notifies mandatory e-filing of return with digital signature for companies

Income Tax : Notification No. 49/2010-Income Tax In a recent Notification No. 49/2010 dated 9 July 2010 (Notification) issued by the Central Bo...

July 9, 2010 10309 Views 0 comment Print

Gifts of property (gifts-in-kind) above value of rs.50,000 become taxable from 1st October 2009

Income Tax : The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an im...

October 1, 2009 2572 Views 0 comment Print


Section 54 Exemption for Capital Gains on Residential Property Transfer

November 3, 2023 84483 Views 4 comments Print

Explore Section 54 Exemption’s basics, amounts, and consequences in capital gains, with detailed computations and insights on tax-saving strategies.

Taxability of Gifts under Income Tax Act, 1961

August 17, 2023 19338 Views 0 comment Print

Explore detailed rules and exemptions of gift taxation in India under Income Tax Act, 1961, including classification and tax implications for different types of gifts.

Hindu Undivided Family (HUF) in India: Formation, Tax Benefits & Challenges

August 8, 2023 20889 Views 3 comments Print

Learn about Hindu Undivided Family (HUF), its formation, tax-saving benefits, and the rules in India. Discover the advantages and hurdles in HUF dissolution.

हिन्दू अविभाजित परिवार (HUF): एक इकाई जो प्रथागत कानून के परिणामस्वरूप उभरती है

July 24, 2023 3561 Views 0 comment Print

अलग-अलग इकाइयाँ हैं जिनका अलग-अलग कानूनी अस्तित्व है उनमें से कुछ प्राकृतिक रूप से उभरती हैं (जैसे मनुष्य), कुछ निगमन के परिणामस्वरूप या किसी कानून (जैसे कंपनियों और पंजीकृत फर्म) के परिणामस्वरूप उभरती हैं । लेकिन एक इकाई (एचयूएफ) है ) जिसका अलग अस्तित्व है और जो किसी विशेष समुदाय (धर्म) के रिवाज या सामाजिक […]

TDS Credit on House Property Sale allowed to HUF despite deduction in Individual Account

July 15, 2023 1245 Views 0 comment Print

ITAT Mumbai rules in favour of Anant Singhania HUF, allowing TDS credit for sale of housing property. The landmark decision provides clarity on tax deductions and credits.

Gift from HUF not to be added to income of Karta of such HUF

May 27, 2023 19671 Views 0 comment Print

ITAT Surat held that gift received from HUF cannot be added back to the total income of the assessee being Karta (Manager) of such HUF.

Demanding tax on interest awarded under Land Acquisition Act by invoking jurisdiction u/s 263 unsustainable

April 21, 2023 3582 Views 0 comment Print

ITAT Delhi held that the interest awarded under Land Acquisition Act is not taxable, accordingly, tax on the same cannot be demanded by way of invoking jurisdiction u/s 263 of the Income Tax Act.

All About Hindu Undivided Family (HUF)

December 7, 2022 29898 Views 2 comments Print

Discover all about Hindu Undivided Family (HUF) formation, evaluation, tax planning, and more. Understand the criteria and limitations of a Joint Hindu Family Business.

What is HUF and how to make HUF deed?

November 23, 2022 38430 Views 7 comments Print

Learn about the concept of Hindu Undivided Family (HUF) and the process of making a HUF deed. Understand the legal and financial implications of forming a HUF.

Dissolution of HUF

October 30, 2022 73536 Views 14 comments Print

Any male or female person born in a joint family under Hindu law who is within four levels in lineal descendent from the common male ancestor is considered as a coparcener and anyone who becomes part of the family other than by the virtue of birth (I.e., by marriage) is treated as a member.

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