Income Tax

Registration-Partnership-Deed

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

TDS on Contractor

Procedure for online correction of Form 26QB for TDS on Property

Form 26QB is a consolidated form which is required to be filed for the deposit of TDS on Property. This form is required to be filed within 30 days from… Read More

Benami Property Act: Practical Analysis in simple words

The amendment in 2016 of the original Benami Act created a sudden storm in the nation bringing about a lot of curiosity in people. A lot of people are worried… Read More

Tax on Sale of Gold in India in 2018

Gold can be held in various forms like Jewellery, Coins, Bars, ETF’s Bonds etc. In this article, we’ll explain the levy of gold on each of these forms. Tax on… Read More

tax-on-rent-nri

Tax on sale of ULIP’s in India

ULIPS stands for Unit Linked Investment Plans and is an Insurance cum Investment Plan. The Premium paid is invested in Equity, Debt and Money market instruments and the person opting… Read More

Save Tax on Interest by doing FD in Parents name (Mother/ Father)

Fixed Deposit is one of the best options for earning secured fixed income. It’s not only safe but is also easy to create and break providing proper liquidity to the… Read More

Investing in Wife name may NOT help you save Tax: Clubbing of Income

A lot of people try to act smart and divert their own income in their wife’s name so as to reduce the tax burden. People normally do this if the… Read More

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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