Income of Rs. 10/- can increase your tax liability by Rs. 2,575/- Logically Illogical- It’s Income Tax Act-1961.
Important judgement on Section 43CB & 145 for complex issue of taxation on real estate construction contracts – ‘completed contract’ vs. ‘percentage completion’ w.r.t AS-7, AS-9 & all important judgements.
More than one residential unit also eligible for exemption u/s 54 & 54F if located in the same building: Delhi HC
No deduction of finance charges if assessee was engaged in making investments just to earn dividend income: ITAT