Ensuring Timely payment to Micro & Small Enterprises through Income Tax Law: Pros & Cons
MSME are growth engines of our economy. Micro, Small and Medium Enterprises Development Act (MSMED) was enacted to take care of the MSME by creating ...
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The Blogs
Systematic Investment Plan (SIP) of Mutual fund vs. Taxation on withdrawals
Systematic Investment Plan (SIP) of Mutual fund vs. Taxation on withdrawals
Systematic Investment Plan (SIP) is considered as one of the best modes of investment in the mutual fund. Lot of investors prefer SIP as it is an easy & comfortable ...
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Not all Minor income is subject to the Clubbing Provision
Not all Minor income is subject to the Clubbing Provision
Youtube, Instagram, Facebook, Snapchat, LinkedIn etc have become an important part of life now. People are spending more & more time on social media now. It is not only a ...
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Gift by the Builders & Developers of the PU Land to the Trust & Applicability of Section 43CA
Gift by the Builders & Developers of the PU Land to the Trust & Applicability of Section 43CA
Section 43CA provides for notional taxation in the hands of the Builders/Developers if such builder / developers transfer the immoveable property below ...
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TAXATION OF YOUTUBER, CONTENTS WRITER & SOCIAL MEDIA INFLUENCERS
TAXATION OF YOUTUBER, CONTENTS WRITER & SOCIAL MEDIA INFLUENCERS
Youtube, Instagram, Facebook, Snapchat, LinkedIn etc have become an important part of life now. People are spending more & more time on social media now. It is not only a way ...
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Amount received from Sale of Software Products not Royalty as per Article 12(3) of India -USA DTAA: ITAT
Amount received from Sale of Software Products not Royalty as per Article 12(3) of India -USA DTAA: ITAT
Facts:
Assessee was asked to show-cause during the assessment proceedings, as to why the aforesaid receipts which was from license fees ...
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Agreement done prior to 2013 and applicability of section 43CA on sale deed done after 2013
Agreement done prior to 2013 and applicability of section 43CA on sale deed done after 2013
There are cases wherein the agreement was entered prior to the introduction of section 43CA but sale deed is done after Section 43CA becomes ...
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Taxation of amount withdrawn from Systematic Investment Plan (SIP) of Mutual fund
Taxation of amount withdrawn from Systematic Investment Plan (SIP) of Mutual fund
Query]
I have been investing in mutual funds since 2001 by way of Systematic Investment Plan (SIP). I started with Rs. 2,000/- per month in 2001 at the age ...
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Validity of addition done pursuant to the statements of the third party without any incriminating material
Validity of addition done pursuant to the statements of the third party without any incriminating material
Here is a landmark order by Mumbai ITAT in the case of DCIT Vs. M/S Hemadari Machine Tools Pvt, wherein various judicial prnouncments were ...
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Failure of the builder to handover the possession of the property Vs. Capital Gain Exemption
Failure of the builder to handover the possession of the property Vs. Capital Gain Exemption
Any profit arising from transfer of land, building, gold, or any other capital assets is subject to income tax as “Capital Gain”. Taxpayers have options ...
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Saving surcharge on income tax by way of having the Partnership Firm:
Saving surcharge on income tax by way of having the Partnership Firm:
Partnership firm is one of the most common and easy modes of starting the business jointly with other persons. However, Partnership firms are liable for taxation at the ...
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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 extends to the whole of the State of Punjab, and offices of the Government of Punjab and offices of any body, whether incorporated or ...
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All about Profession Tax
profession tax
INTRODUCTION:
Even though GST is implemented, yet Maharashtra Profession Tax is not abolished. It is still applicable.
Profession Tax is a tax which is levied by the state on the income earned by way of profession, trade calling or ...
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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 and medium-sized companies in Bengaluru are under the scanner of the department.
New Delhi: The Income Tax Department on Thursday (January 25) claimed to have busted. A ...
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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 of the major changes made in the Income Tax Act vide Finance Act, 2017 were towards promoting digital economy, providing a cash less economy, ...
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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, so can he claim bogus deduction under sec 80C?
If a person has not filled ITR in previous years though he was liable ...
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