Income Tax - Gift is usually used to convert black money into white money. To stop practice of converting black money into white money a section 56(2)(Vii) introduced by Finance Act , 2009 and amended by Finance act , 2010. This section deals with law of taxation of gift....
Read MoreIncome Tax - Income Tax Benefit on Home Loan Interest under Section 80EE Of Income Tax Act relating to the additional deduction in respect of interest on loan taken for residential house property....
Read MoreIncome Tax - Section 185 is applicable to a public company as well as private company. This section applies to loan etc. given by a company directly or indirectly. Indirectly means company can not give loan through the agency of one or more intermediaries. ...
Read MoreIncome Tax - Lakesh Kumar Treatment of Medical Facilities AND Interest free Loan or Loan at Concessional rate of Interest As we know many facilities and perquisites provided by employer to their employees. Medical facilities and Interest free loan or loan at concessional rate is one of them. I always try my best to make understand the users […]...
Read MoreIncome Tax - Lakesh Kumar Introduction:–This is a new tax, applicable from 1st June, 2013, deducted at source on the sale of any immovable property (other than agriculture land). However this section applicable only when sale consideration of the immovable property more than 50 Lacs. This provision introduced by The Finance Mini5ster to improve ...
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