Category: Income Tax

If a person dies during the year, and has earned some income during that year, it is necessary to file income tax returns even after his death. As per the...

“Composition means componere, meaning “put together”. One of the  feature of Indirect Tax laws is that in order to provide a comfort to assessee from complying with the requirement of...

The Gains that arise on the sale of a Long Term Capital Asset are known as Long Term Capital Gains and Capital Gains Tax is levied on such gains. However,...

  The dividends received from any Indian Company upto Rs. 10 Lakhs are tax free in the hands of the investors under Section 10(34). However, the dividends received from any Mutual...

Dividend stripping is the practice of buying a share/mutual fund units, just before the declaration of dividend and then selling it off right after the receipt of dividend, when the...

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...

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...

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...

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...