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...
Read MoreCA, 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 [&...
Read MoreCA, 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...
Read MoreCA, 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?...
Read MoreCA, 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...
Read MoreCA, 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...
Read MoreCA, 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...
Read MoreM/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....
Read MoreCIT 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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