Tax Planning

HUF: A Tax Planning Instrument

Income Tax - HUF can be used as an efficient tax saving tool that can be used to reduce taxes by proper Tax Planning. The notion of HUF Hindu undivided family) is particularly relevant In India since joint families exist in Indian culture where an individual’s income is also taxed as joint income. Income is charged on family […]...

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Tax Planning, Tax Evasion, Tax Avoidance & Tax Management

Income Tax - All about different terms under Income Tax Act, 1961 Tax Planning, Tax Evasion, Tax Avoidance & Tax Management Very Simple analysis of different terms under Income Tax Act, 1961 Tax Planning, Tax Evasion, Tax Avoidance & Tax Management is as under:- 1) Tax Planning Tax Planning means reducing tax liability by taking advantage of t...

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Income Tax Saving Guide

Income Tax - Most of us are not aware about the tax saving scheme people are not aware what all options are available where investment can be done. This article will let you know the options available for an individual where they can invest & also save their taxes. EQUITY LINKED SAVING SCHEME  (E.L.S.S) E.L.S.S are notified Tax […]...

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Gold Price Chart – Gold Price History for 95 Years

Income Tax - Invest In Gold Is Still A Good Investment? We are observing since month of August, 2020 that price of Gold has increase tremendous. During August 2020 it reach to Rs. 52,000. If we look back, prices of Gold in the year 2000 was Rs. 4,400 while in the year 2010 it was Rs. 18,500 and […]...

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House Rent Allowance – A Tax planning tool for Salaried

Income Tax - Generally employee submits Rent receipt and rent deed to his employer to claim exemption of tax on account of HRA however recently CBDT vide circular :08/2013 dated 10 Oct 2013 has made mandatory that If annual rent paid by the employee to his/her land lord exceeds Rs 1,00,000 per annum...

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

Income Tax - 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

Income Tax - 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"

HUF: A Tax Planning Instrument

HUF can be used as an efficient tax saving tool that can be used to reduce taxes by proper Tax Planning. The notion of HUF Hindu undivided family) is particularly relevant In India since joint families exist in Indian culture where an individual’s income is also taxed as joint income. Income is charged on family […]...

Read More
Posted Under: Income Tax |

Tax Planning, Tax Evasion, Tax Avoidance & Tax Management

All about different terms under Income Tax Act, 1961 Tax Planning, Tax Evasion, Tax Avoidance & Tax Management Very Simple analysis of different terms under Income Tax Act, 1961 Tax Planning, Tax Evasion, Tax Avoidance & Tax Management is as under:- 1) Tax Planning Tax Planning means reducing tax liability by taking advantage of t...

Read More
Posted Under: Income Tax |

Income Tax Saving Guide

Most of us are not aware about the tax saving scheme people are not aware what all options are available where investment can be done. This article will let you know the options available for an individual where they can invest & also save their taxes. EQUITY LINKED SAVING SCHEME  (E.L.S.S) E.L.S.S are notified Tax […]...

Read More
Posted Under: Income Tax |

Gold Price Chart – Gold Price History for 95 Years

Invest In Gold Is Still A Good Investment? We are observing since month of August, 2020 that price of Gold has increase tremendous. During August 2020 it reach to Rs. 52,000. If we look back, prices of Gold in the year 2000 was Rs. 4,400 while in the year 2010 it was Rs. 18,500 and […]...

Read More
Posted Under: Income Tax |

House Rent Allowance – A Tax planning tool for Salaried

Generally employee submits Rent receipt and rent deed to his employer to claim exemption of tax on account of HRA however recently CBDT vide circular :08/2013 dated 10 Oct 2013 has made mandatory that If annual rent paid by the employee to his/her land lord exceeds Rs 1,00,000 per annum...

Read More
Posted Under: Income Tax |

Guide on How to Save Income Tax?

Guide on How to Save Income Tax is RELEVANT FROM FINANCIAL YEAR 2019-20 & ONWARDS, Incorporates changes made in Income Tax laws in Union Budget presented on July 5, 2019 & onwards. Download the attached File to get the detailed analysis of Deduction under Income Tax Act & Rules on following topics- Income Tax New […]...

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Posted Under: Income Tax |

Income Tax on distribution of surplus by companies / effective Income Tax planning

Considering the recent amendments in Income Tax Act, distribution to shareholder / promoter has become challenging, specifically post introduction of section 2(22)(e). The most viable options to distribute / pull out funds for promoter are incentive pay-out, dividend distribution and buy-back. It is worthwhile to note that dividend income...

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Posted Under: Income Tax |

Planning to sell your House? Know the taxes & how to save taxes?

Many people specially who do not file their income tax returns are not aware that they have to pay tax in respect of profits made on sale of a residential house.  In certain circumstances, you can save these taxes. Let us discuss it in details. Tax liability on the basis of holding period If the […]...

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Posted Under: Income Tax |

Tax Avoidance vs Evasion: A Harmonious reading of landmark Judgements of SC

In McDowell it was held that if a transaction was carried with an intention to avoid taxes it was up to the judiciary to decide whether the same ought to be regarded. In other words, the duty to decide the validity of the transaction was left to the court....

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Posted Under: Income Tax |

Final Chance To Save Your Taxes!

This article provides valuable tips and suggestions to assist all the taxpayers in saving their taxes that are to be paid for the financial year 2019-2020. This article is packed with real-life comprehensive illustrations which shall give all the readers thorough insights to lower their tax incidence and will also help them understand the...

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Posted Under: Income Tax | ,

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