Income Tax

An income tax is a tax imposed on individuals, entities (taxpayers). That varies with their respective income, profits (taxable income). Many jurisdictions refer to income tax on business entities as companies ,corporate tax. Partnerships generally are not taxed rather, the partners are taxed on their share of partnership items. Tax may be imposed by both a country and subdivisions. Most jurisdictions exempt locally organized charitable organizations from tax.

Income Tax Article

mutual fund

Taxation of Income from Mutual Fund: Old Regime Vs. New Regime

Dividend Distribution Tax (DDT) has been finally abolished by the Finance Act – 2020 which...
15G & H

Form No. 15G & Form No. 15H submitted for FY 2019-20 is now valid till 30.06.2020: CBDT

Form No. 15G & Form No. 15H submitted for FY 2019-20 is now valid till...
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...
company 1

Important FAQ by ICAI on Company Fresh Start Scheme issued by MCA

Important FAQ by ICAI on Company Fresh Start Scheme issued by MCA ************************************************************************ For Tax & Corporate...

CORONA PACKAGE: Relief Giving Notifications No 30 to 36/2020 Central Tax Dated 03/04/20 Issued

CORONA PACKAGE: Relief Giving Notifications No 30 to 36/2020 Central Tax Dated 03/04/20 Issued     ************************************************************************ For Tax...
ITC 1

Time to Cheers: ITC restrictions of 10% under Section 36(4) temporarily suspended: CA Jethalal Rukhiyana

The Government is acting very proactively on every front. The Government is announcing various relief...
gst

Notification Issued for GSTR 3B, GSTR 1 and other issues

Notification Issued for GSTR 3B, GSTR 1 and other issues
CCIT

CCIT have Power to waive interest u/s 234A, 234B & 234C: CA Naresh Jakhotia

CCIT have Power to waive interest u/s 234A, 234B & 234C -          CA Naresh Jakhotia There is a...
covid 19

Detailed write of the relief measure announced by the RBI in view of Covid 2019

Detailed write of the relief measure announced by the RBI in view of Covid 2019 banks-policy-on-covid-related-reschedulement-of-dues.pdf ************************************************************************ For...
housing

Interest paid on housing loan can be treated as part of the cost of acquisition: CA Naresh Jakhotia

Whether interest on housing loan can be treated as part of cost of acquisition is...
80C-

Two person have invested Rs. 1 Lakh on 15th April 2020, whether it can be treated as investment in different financial years for tax...

Two person have invested Rs. 1 Lakh on 15th April 2020, whether it can be treated...
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...

Drastic reduction in interest rates of all Small Savings Schemes including on PPF A/c

Drastic reduction in interest rates of all Small Savings Schemes including on PPF A/c   ************************************************************************ For Tax...
LFAR

RBI Extends Timelines of submission of various supervisory Returns : LFAR extended by 1 Month

RBI Extends Timelines of submission of various supervisory Returns : LFAR extended by 1 Month   ************************************************************************ For...

Banks started giving options to avail Loan Moratorium

Banks started giving options to avail Loan Moratorium ************************************************************************ For Tax & Corporate Law Updates on Mobile,...