Wednesday, August 5, 2020

Other Income Tax Article

Capital Gain

LTCG - Exemption

Whether LTCG exemption can be withdrawn if the building is demolished within 3 years of its purchase?

Whether LTCG exemption can be withdrawn if the building is demolished within 3 years of...
capital gain1

Computation of profit on sale of capital assets is different in case of Trust: CA Naresh Jakhotia

There is a special provision to levy the tax arising on sale of capital assets...
Capital Gain

No Extension of Time to 30th June for Claiming Capital Gain Exemption u/s 54EC if it is earned after 20th September : CA Naresh...

No extension of time to 30th June for claiming Capital gain exemption u/s 54EC if it...
CAPITAL GAIN

Capital gains exempt under section 54EC need not be reckoned for purpose of computing book profit u/s 115JB

Income Tax Act, 1961, Sections 115JA & 54EC MAT---Book profit under section 115JA---Capital gains exempted under...
partner

Payment of enhanced value of assets revalued by firm whether constitute capital asset and transfer of such asset whether capital gains chargeable under section...

Income Tax Act, 1961, Section 45(4) Income Tax Act, 1961, Section 2(14) Capital gains---Capital asset---Payment of enhanced...

House Property

cost of aquisition

Interesting case: Cost of acquisition to the assessee is not merely the amount paid to the vendors but also the cost of the borrowing...

Interesting case: Cost of acquisition to the assessee is not merely the amount paid to...
housing loan

Interest on Housing Loan: Possibility of double deduction cannot be overruled

Interest on Housing Loan: Possibility of double deduction cannot be overruled CA Naresh Jakhotia There are often...
house property

Sum received from display of advertisement on assessee’s undergoing real estate project is a business income or house property income?

Income Tax Act, 1961, Section 14 Heads of income---Income from house property or Income from other...

Property used by the Assessee for the purpose of its business cannot be considered to be a vacant property as per section 23

Property used by the Assessee for the purpose of its business cannot be considered to...
Income from let out of 'premises only' is taxable under the head 'Income from House Property'

Income from let out of ‘premises only’ is taxable under the head ‘Income from House Property’

Income from let out of 'premises only' is taxable under the head 'Income from House...

Salary

Excellent Representation by CTC on Online procedure for making application for...

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Other Source of Income

Income from Business or Other Source of Fund is generated from...

Income from Business or Other Source of Fund is generated from business & sourced to FDRs Short Overview: Although funds generated from business were sourced to...

Business Profession

Punjab State Development Tax Act, 2018 : 6 things to know

Punjab State Development Tax Act, 2018 : 6 things to know

The date of enactment of The Punjab State Development Act is 16th April, 2018. It...
All about Profession Tax

All about Profession Tax

profession tax INTRODUCTION: Even though GST is implemented, yet Maharashtra Profession Tax is not abolished. It...
refund fraud

Income Tax Department Unearths Tax Refund Fraud by IBM, Infosys Employees

BY PTI ON 26/01/2018 Income Tax Department Unearths Tax Refund Fraud by IBM, Infosys Employees Employees of over 50 prominent...

Promoting Digital Economy vide changes made by Finance Act 2017 to the Income Tax Act

Promoting Digital Economy vide changes made by Finance Act 2017 to the Income Tax Act Some...

Non filers may take the benefit of Income Disclosure Scheme-2016

Income Disclosure Query 1] If a person has not made any investments in LIC or in PPF,...

Assesment

All About Provision For Bad And Doubtful Debts In Respect Of...

All About Provision For Bad And Doubtful Debts In Respect Of Rural Advances Of Certain Banks: Section 36(1)(viia) One section which is very relevant for...

Tax Planning

7,000.00
10,500.00
7,000.00
6,000.00
6,000.00
6,000.00
10,500.00
6,000.00
6,000.00
7,000.00
2,400.00
7,000.00
3,400.00
2,400.00
7,000.00
3,400.00