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Income Tax - Finance Act, 2017 amended section 10(38) of the Income-tax Act, 1961 (the Act) stating that long term capital gains from transfer of listed equity shares acquired on or after 01 October, 2004, would be exempt from tax under section 10(38) of the Act only if the Securities transaction Tax (STT) was paid at the time of acquisition of such s...
Read MoreIncome Tax - This article summarises the amendment brought in Section 10(38) of the Income Tax Act, 1961, the exemptions provided under the section through notification issued by the central government and discusses few situations where exemption may not be available. ...
Read MoreIncome Tax - This article is for better understanding of Treatment of Income from Sales of shares or other securities. Here I am explaining about the possibilities one can treat the income from sale of shares and what are the benefits of it. The article also comprises the corresponding guidelines from CBDT which are self explanatory and fiercest....
Read MoreIncome Tax - Myths about MIP: Monthly Income Plans or MIPs seem like a good and wide umbrella which will protect the investors from the vagaries of the market weather. It is mostly PERCEIVED to be a risk-free product which will deliver regular incomes month after month in an un-interrupted manner while the original investment remains safe and sound....
Read MoreIncome Tax - #JanoTohMano In contemporary times, the idea of security, which is associated with traditional investments, is obsolete. While they do provide a sense of security yet the question is - is it a smart move on your part to shy away from huge returns which you can easily earn by investing in mutual funds? Well that’s for you to decide....
Read MoreCheminvest Ltd. (ITAT Delhi) - Special Bench of the Income Tax Appellate Tribunal, New Delhi in the case of Cheminvest Ltd. (ITA Nos.87Del//2008, 4788/Del/2007 and 233/Ahd/ 2006) holds that expenditure relating to exempt income to be disallowed even if assessee has not earned any tax-free income....
Read MoreCheminvest Ltd. Vs ITO (ITAT Delhi) - Special Bench of the Income Tax Appellate Tribunal, New Delhi holds that expenditure relating to exempt income to be disallowed even if assessee has not earned any tax-free income....
Read MoreCircular No. 6/2015-Income Tax - (09/04/2015) - CIRCULAR NO. 6/2015, Dated: April 9, 2015 no capital gains will arise at the time of exercise of the option in the case of Fixed Maturity Plans (FMPs) by the investor to continue in the same scheme. The capital gains will, however, arise at the time of redemption of the units or opting of the scheme...
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Circular No. 6/2015-Income Tax - (09/04/2015) -
