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Profits and Gains from Business & Profession- Brief Study

Income Tax : In this Article we have discussed briefly Different Provisions Applicable to Income from Business and Profession at one place. In ...

August 1, 2023 549081 Views 12 comments Print

Income Tax benefits available to Small Businessmen for AY 2024-25

Income Tax : Article contain all benefit available to Small Businessmen for AY 2020-21 including provisions for Presumptive Taxation Scheme, Va...

July 25, 2023 73794 Views 9 comments Print

Income Tax Benefits for Individuals & HUFs for A.Y. 2024-25

Income Tax : Income Tax Benefits are available to Individual/HUFs for AY 2024-25. Claim reliefs & rebates of up to Rs. 2.5 lakhs. Senior & Supe...

July 24, 2023 313750 Views 30 comments Print

Tax Benefits Available to Senior Citizens

Income Tax : A person becomes senior citizen under Income Tax Act in any year after attaining the age of 60 even for one day. Once he attains 6...

June 29, 2023 691146 Views 150 comments Print

Income Tax Provisions applicable to non-residents

Income Tax : Every year the residential status of the taxpayer is to be determined by applying the provisions of the Income-tax Law designed in...

June 29, 2023 58513 Views 6 comments Print


Latest News


Investors – Don’t Miss to watch Plan F program on CNBC TV 18

Finance : CA Sandeep Kanoi I just came to know about one very interesting investor education initiative called “Plan F- your financial fit...

November 24, 2013 1352 Views 0 comment Print

Taxability of IIFCL Tax Free Bonds – Issue opening on 26 Dec 2012

Income Tax : India Infrastructure Finance Company Limited Issue Period: 26 Dec 2012 to 11 Jan 2013 Key Benefits: Credit Ratings: AAA by CARE, A...

December 24, 2012 10075 Views 0 comment Print

Sell Investment in shares made less than a year ago to lower tax burden

Income Tax : If you are sitting on unrealised losses on equity investments made less than a year ago, here is some consolation. Those unrealise...

March 15, 2009 399 Views 0 comment Print


Latest Posts in Income Tax Tips

Profits and Gains from Business & Profession- Brief Study

August 1, 2023 549081 Views 12 comments Print

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.

Income Tax benefits available to Small Businessmen for AY 2024-25

July 25, 2023 73794 Views 9 comments Print

Article contain all benefit available to Small Businessmen for AY 2020-21 including provisions for Presumptive Taxation Scheme, Various deductions available from business profits, Maintenance of books of accounts and audit thereof, Exemptions and Deductions, Tax Deducted at Source and Advance Tax, Basic exemption limits, Concessional tax rate for domestic company and Exemption from e-filing of return of income.

Income Tax Benefits for Individuals & HUFs for A.Y. 2024-25

July 24, 2023 313750 Views 30 comments Print

Income Tax Benefits are available to Individual/HUFs for AY 2024-25. Claim reliefs & rebates of up to Rs. 2.5 lakhs. Senior & Super Senior Citizens can get up to Rs. 3 lakhs & 5 lakhs respectively!

Tax Benefits Available to Senior Citizens

June 29, 2023 691146 Views 150 comments Print

A person becomes senior citizen under Income Tax Act in any year after attaining the age of 60 even for one day. Once he attains 60 years, his status as senior citizen in that financial year, gives him some relief .There are not many income tax exemptions available for senior citizens.

Income Tax Provisions applicable to non-residents

June 29, 2023 58513 Views 6 comments Print

Every year the residential status of the taxpayer is to be determined by applying the provisions of the Income-tax Law designed in this regard (discussed later) and, hence, it may so happen that in one year the individual would be a resident and ordinarily resident and in the next year he may become

Taxation of Capital Gain in India – FAQs

June 29, 2023 477604 Views 165 comments Print

What incomes are charged to tax under the head Capital Gains? Ans: Any profit or gain arising from transfer of a capital asset during the year is charged to tax under the head Capital Gains.​

FAQs on Income from house property

June 29, 2023 533923 Views 66 comments Print

Is rental income from sub-letting chargeable to tax under the head Income from house property? Ans: Rental income in the hands of owner is charged to tax under the head Income from house property. Rental income of a person other than the owner cannot be charged to tax under the head Income from house property.

Clubbing of Income under Income Tax Act, 1961 with FAQs

June 28, 2023 876874 Views 80 comments Print

Clubbing of income means Income of other person included in assessees total income, for example: Income of husband which is shown to be the income of his wife is clubbed in the income of Husband and is taxable in the hands of the husband. Under the Income Tax Act a person has to pay taxes on his income.

Computation of Income Tax – FAQs & Examples

June 27, 2023 354210 Views 22 comments Print

Have questions about income tax payment? Read this article to find answers to frequently asked questions about income tax, including payment deadlines, income classification, gross total income, deductions, tax liability computation, and more.

What is TDS on Fixed Deposits? How is it Calculated?

October 17, 2022 21363 Views 1 comment Print

Fixed deposits not only offer a safe and assured way of earning returns but when invested correctly can also help you save on taxes. Read on to know how.

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