Income Tax

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

Why is Cess and Surcharge levied separately?

The Constitution of India grants the power to the Union to raise revenue by levying cess. Article 270 of Constitution of India states that the Government can collect tax in… Read more

Special Provisions for Tax on sale of Shares/Mutual Funds by NRI

When a NRI invests in the stock market of India, he is subject to capital gain tax on the profit earned through trading done in India. There are two types… Read more

What is Take Home Salary and How to increase take home salary?

Take home salary is the amount received by an employee after subtracting all the deductions from his package or CTC (Cost to Company). The formula for computing the take home salary… Read more


Tax on Property Transaction below Circle Rate: Section 50C, Sec 56

This article highlights the income tax treatment on purchase/sale of a property below the Stamp Duty Value under Section 50C & Section 56(2)(x). Before the explaining the treatment, lets first… Read more


Rs. 50,000 Standard Deduction in Income Tax – Budget 2019

A Standard Deduction is basically a deduction allowed in Income Tax irrespective of the expense incurred or the investment made by the Individual. No Disclosures/ Investment Proofs/ Expense Bills are… Read more


7 Special Tax benefits for Senior Citizens – Updated

The Indian Income Tax Act gives certain tax benefits to Senior Citizens and also tries to ensure that income tax e-filing is a hassle free process. The complete list of… Read more


Section 44AE: Tax on Income of Transporters – Updated

Section 44AE, Section 44AD & Section 44ADA deal with Presumptive Taxation of Business. Section 44AE is applicable for Business of plying, hiring or leasing goods carriages whereas Section 44ADA is applicable… Read more

Term Insurance vs ULIP – Comparative Analysis with Calculations

Insurance is a term we all are aware of. As soon as we hear the word “insurance”, the first thing that comes to the mind is financially securing something valuable… Read more

What is a Shell Company?

Every company comes into existence after getting incorporated under the Companies Act, 2013, to facilitate regular business operations. A shell company however, instead of transacting into ordinary business transactions, is… Read more