Income Tax : The case highlights how expanded benami provisions expose informal family arrangements to confiscation and penalties. Courts stres...
Income Tax : Tax-loss harvesting helps investors offset losses against gains to reduce tax liability. The key takeaway is that strategic timing...
Income Tax : Many tax-saving investments carry hidden costs like STT, expense ratios, and exit loads. The analysis highlights that these charge...
Income Tax : The Supreme Court clarified that tax planning is valid only when backed by real commercial substance. It held that artificial stru...
Income Tax : Tax loss harvesting allows investors to sell loss-making shares to offset capital gains and reduce tax liability. This strategy he...
Income Tax : Trusts and institutions carrying out charitable activities will face more stringent taxation regime when the new direct taxes code...
Finance : Money managers, who have historically used dividends as a ploy to lure investors to tax-saving stock funds, are shying away from p...
Income Tax : Bhoruka Steel Limited (BSL) was incorporated in the year 1969. The company became a sick industrial company within the meaning of...
Income Tax : Wallfort Shares & Stock Brokers, a Five Member Special Bench of the Tribunal (96 ITD 1 (Mum) (SB)) and the Bombay High Court (310 ...
In this article we shall discuss what is a Hindu Undivided Family (HUF) or Joint Hindu Family (JHF) as per various laws. We shall trace the history and evolution of HUF/JHF and also discover how HUFs can help you save taxes! We shall also discuss on how to form an HUF and what are the various benefits/advantages of forming an HUF.
What Taxes shall you pay for Financial Year 2019-2020 – A complete tax guide for income tax computation In India, every year, the Finance Minister announces an annual Union Budget for the up-coming financial year. According to Article 112 of the Indian Constitution, the Union Budget of a year (referred to as the annual financial […]
Your spouse not only helps you in meeting your social and personal obligations but also helps you in saving income tax as well. There are certain tax benefits by way of which you can enhance you tax savings through your spouse. Let us discuss some of important provisions. Expenses incurred for your children Presently Indian […]
In recent times, blogging has become one of the trending professions in the market. One of the major reasons behind it is income generating capacity of this profession. Bloggers can earn lakhs of rupees per month but most of the time they are unaware about the tax implications on their income. Hence today we are […]
The financial year is closing and the taxpayers generally started looking for tax saving investments significantly during February-March which can help in saving their income taxes. It will be superb if such tax savings along with it also brings good return on the investments with good lock in period that can be utilized at time […]
Finance Act 2020 has made significant changes in the way dividend was taxed in India, up to the Financial year 2019-20 dividend was liable to be taxed at the time of distribution by the company u/s 115-O @ 20.56% (effective rate). Dividend income in the hands of the shareholders was exempt, except for resident individual […]
In wake of the Covid-19 pandemic, the Indian Government gave a much-needed breather to the taxpayers by extending the March 31st deadline for paying income taxes till June 30th. People are worried and perplexed as to what this extension means and what to do about it. There’s nothing to worry and hopefully this blog will […]
2 OPTION FOR TAX PLANNING-F.Y.-20-21 -Option-I–Old Regime i.e old tax rates with all investment benefits, allowances -Option-II-New tax regime with new rates without investment benefits ,allowance AGENDA- OPTION I (OLD RATE) What is Tax Planning Tax Planning For Retirement Plans Calculation of Gross Total Income Tax Saving Deduction Allowance Available Calculation of Net Taxable Income […]
The Finance Bill, 2020 has come up with a lot of benefits for small and medium taxpayers in such a way that, even those earning Rs. 7.25 Lacs a year need not shell out a single rupee of tax provided they make some eligible investments.
TAX SAVINGS INVESTMENTS AND WEALTH MANAGEMENT Why to save taxes..?? -Do you feel that you are paying too much tax? -Have you ever thought of saving tax? -Planning your taxes properly can help you save a lot of money. -Income Tax laws appear so complex that people are scared to deal with their taxes. Why won’t […]
