Income Tax

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How to Reduce Financial Burden of Damages to Your House?

Home is a place synonymous with safety, comfort, freedom and love that are rare to find in the outside world. For most homeowners, it is one of their life’s greatest… 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

service-export

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

Loss from House Property

TDS on Property Sale @ 1% under Section 194IA

The Indian Finance Minister while announcing the Budget 2013-14 introduced TDS on Property @ 1% on all Immovable Property Transactions over Rs. 50 Lakhs under Section 194IA. Reason for Introduction of… Read More

tax-bonus-shares

Capital Gains Tax on sale of Bonus, Right & Split Shares

At the time of sale of shares, Capital Gains Tax is levied depending on the nature of the capital gains. If the Capital Gains are Long Term in Nature, such… Read More

Section-44AD

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

Budget 2016 Update: The benefit of Section 44AD has now been extended to Professionals as well. Any professional whose gross total receipts during the year are less than 50 Lakhs… Read More

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