Income Tax

Section-44AD

Section 44AD & 44ADA: Income of Business – 8%, Profession – 50%

To reduce the burden of compliance of small taxpayers, the govt provides for a scheme of Presumptive Taxation which is very easy to understand and comply with. Under the scheme… Read More

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Income Tax Returns revised after Demonetisation may come under Scrutiny

On 8th Nov. 2016, the Indian Govt demonetised the Rs. 500 and Rs. 1000 notes in order to curb the flow of black money in the system. The Govt has… Read More

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Email id’s of 74,000 CA’s in India hacked by Legion Group – News Report

He is an 18-year-old somewhere in India. Or so, he says. And he is part of Legion, the hacker group that has got India's attention after several high-profile email and… Read More

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Tax Planning: How to Save Tax legally in 8 different ways

The Indian Income Tax Act allows for certain deductions which can be claimed to save tax at the time of filing of Income Tax Return by all classes of Taxpayers… Read More

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MEIS Scheme: Govt incentives for Export of Goods – 2 to 5%

The Merchandise Export from India Scheme (MEIS Scheme) is a newly launched scheme launched as a part of the new Foreign Trade Policy and is applicable from 2015 to 2020… Read More

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SEIS Scheme – 5% Incentives by Govt to Service Exporters

In order to encourage exports, the govt provides certain benefits to exporters. These benefits are provided to both Service Exporters as well as Exporters of Goods. In this article, we… Read More

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Equalisation Levy @ 6% on Digital Ads from 1st June 2016

The Digital Space has grown very rapidly in the past few years and is expected to grow substantially in the next few years. The biggest beneficiaries of this rapid growth… Read More

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Income Tax Benefits of paying Insurance Premium in India

There are several types of insurance policies which can be purchased by an individual however,  insurance policies are broadly be classified into two categories i.e. General Insurance Non-General Insurance In… Read More

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TDS on Purchase of Property from NRI – Section 195

When purchasing a property from NRI – TDS is required to be deducted on Capital Gains and not on the Sale Price. The Procedure, TDS Rate and compliances are very… Read More

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TDS on Property purchased on Home Loan – EMI Payments

With effect from 1st June 2013, TDS is required to be deducted @ 1% on all payments made for purchase of property. This TDS is required to be deducted on… Read More

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