Tax Planning

Choice of Tax Regime for Better Tax Planning

CA, CS, CMA - When the Budget announced by Finance Minister Smt Nirmala Sitaraman, every individual have a smile on his face for income tax slab announcement, even most people waiting only for this announcement in whole budget speech, because it will affect huge public. But when this announcement is made most of people misunderstood it, everyone thinks...

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Tax Planning while setting up of a business with reference to Nature of business

CA, CS, CMA - Tax Planning while setting up of a business with reference to Nature of business related with A.Y 2021-2022, A.Y 2022-2023 and A.Y 2023-2024-An analysis of Six important Deductions as per Income Tax Act. I hereby want to summarize details regarding tax planning while setting up of a business with reference to Nature of business related [&...

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Tax planning while setting up of a business with reference to location

CA, CS, CMA - Tax Planning while setting up of a business with reference to location related with A.Y 2021-2022 , A.Y 2022-2023 and A.Y 2023-2024. You will get the following deductions if you have established your business unit in the following locations as per the following sections...

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Important Things from Income Tax Aspect to Consider this March ending!

CA, CS, CMA - Financial year 2022-23 is about to end, & new financial year is about to start. How should a taxpayer prepare himself for this year’s march ending?...

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Must-Know Tax Planning Strategies for Indian Business Owners

CA, CS, CMA - As a business owner in India, it is essential to have an effective tax planning strategy to minimize your tax liability and optimize your financial resources. By following the ten tax planning strategies discussed in this article, you can save taxes, increase profits, and improve cash flow. 1. Choose the Right Business Entity Choosing the...

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DTC will not provide deduction for donation to relegious trust and may tax NGOs

CA, CS, CMA - Trusts and institutions carrying out charitable activities will face more stringent taxation regime when the new direct taxes code comes into play from April 1, 2011.The new Code will particularly hit non-governmental organisations (NGOs). All NGOs and charitable trusts registered with the Tax Department may be required to fork out 15 per...

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Fund managers not willing to annouce dividend this year

CA, CS, CMA - Money managers, who have historically used dividends as a ploy to lure investors to tax-saving stock funds, are shying away from payouts this year, as a savage share market decline limits distributable surplus. Only seven tax funds have announced dividends in 2008/09, compared to 20 last year. The March quarter, which typically sees hecti...

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S. 10(38) Sale of land through sale of shares by company holding only land is valid

M/s Bhoruka Engineering Inds. Ltd Vs The Deputy Commissioner of Income Tax (Karnatka High Court) - Bhoruka Steel Limited (BSL) was incorporated in the year 1969. The company became a sick industrial company within the meaning of SICA.It was proposed that 30 acres of land along with building and structure to be disposed of....

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Supreme Court upheld Dividend-Stripping Law

CIT Vs. Walfort Share & Stock Brokers (Supreme Court of India) - Wallfort Shares & Stock Brokers, a Five Member Special Bench of the Tribunal (96 ITD 1 (Mum) (SB)) and the Bombay High Court (310 ITR 421 (Bom)) held that the ‘loss’ incurred by an assessee in ‘dividend-stripping’ transactions cannot be disallowed on the ground that it was ‘tax-planning‘...

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Recent Posts in "Tax Planning"

Choice of Tax Regime for Better Tax Planning

When the Budget announced by Finance Minister Smt Nirmala Sitaraman, every individual have a smile on his face for income tax slab announcement, even most people waiting only for this announcement in whole budget speech, because it will affect huge public. But when this announcement is made most of people misunderstood it, everyone thinks...

Read More
Posted Under: Income Tax | ,

Tax Planning while setting up of a business with reference to Nature of business

Tax Planning while setting up of a business with reference to Nature of business related with A.Y 2021-2022, A.Y 2022-2023 and A.Y 2023-2024-An analysis of Six important Deductions as per Income Tax Act. I hereby want to summarize details regarding tax planning while setting up of a business with reference to Nature of business related [&...

Read More
Posted Under: Income Tax |

Tax planning while setting up of a business with reference to location

Tax Planning while setting up of a business with reference to location related with A.Y 2021-2022 , A.Y 2022-2023 and A.Y 2023-2024. You will get the following deductions if you have established your business unit in the following locations as per the following sections...

Read More
Posted Under: Income Tax |

Important Things from Income Tax Aspect to Consider this March ending!

Financial year 2022-23 is about to end, & new financial year is about to start. How should a taxpayer prepare himself for this year’s march ending?...

Read More
Posted Under: Income Tax | ,

Must-Know Tax Planning Strategies for Indian Business Owners

As a business owner in India, it is essential to have an effective tax planning strategy to minimize your tax liability and optimize your financial resources. By following the ten tax planning strategies discussed in this article, you can save taxes, increase profits, and improve cash flow. 1. Choose the Right Business Entity Choosing the...

Read More
Posted Under: Income Tax |

Tip: Tax planning in case of start-ups

Mr A supposed to invest Rs 5 crores in start-up. He is holding 100% shareholding in his company(1% in the name of nominee to comply with the provision of Companies Act,2013)....

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Posted Under: Income Tax |

All You Need to Know About Tax Savings for Resident/Non-Resident Indians

The aim of this article is to provide an insight into how NRIs can save taxes on their Indian income. Further, the article will discuss the tax reliefs that are available to NRIs under the Income Tax Act, 1961 and other fiscal laws in India....

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Posted Under: Income Tax |

General compliances to adhere while closing year end financial statement

Supplements to year end financials With the year ending around the corner i.e. March 31st comes cumbersome and technical process of closing books of accounts while ensuring systematic maintenance of the same and complying with applicable laws. The article briefs about the general compliances to adhere to while closing the financial statem...

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Posted Under: Income Tax |

How NRI can save TDS on selling immovable property in India

As an NRI, if you are selling a property located in India, you would have faced an assertion from the buyer that they shall deduct from your sale proceeds, a tax equal to 20% + surcharge + education cess of the entire sales consideration....

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Posted Under: Income Tax |

Tax Saving Options for Salaried Person

As we all know March 2023 is coming. This means financial year 2022-23 is about to end. Everyone looks for tax planning to save tax.  Here we will talk about ways to save tax for salaried people. 1. Standard Deduction 16(1)  The standard deduction is allowed from gross salary. It is available to all class […]...

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Posted Under: Income Tax |

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