Income Tax : In this Article we have discussed briefly Different Provisions Applicable to Income from Business and Profession at one place. In ...
Income Tax : Article contain all benefit available to Small Businessmen for AY 2020-21 including provisions for Presumptive Taxation Scheme, Va...
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...
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...
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...
Finance : CA Sandeep Kanoi I just came to know about one very interesting investor education initiative called “Plan F- your financial fit...
Income Tax : India Infrastructure Finance Company Limited Issue Period: 26 Dec 2012 to 11 Jan 2013 Key Benefits: Credit Ratings: AAA by CARE, A...
Income Tax : If you are sitting on unrealised losses on equity investments made less than a year ago, here is some consolation. Those unrealise...
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.
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 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!
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.
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
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.
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 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.
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.
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.
