Category: Income Tax

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 of capital gains applicable in India: Short Term Capital Gains...

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 is Take home salary= Basic Salary + Allowances – Deductions...

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 understand the meaning of Stamp Duty Value. Circle Rate/ Stamp...

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 all the tax benefits available to senior citizens is compiled...

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 for Professionals & Section 44AD is applicable for Other Businesses. The...

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 against uncertain mis-happenings. Now, there are two options that can...

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 made with a view to enter into illegitimate transactions with...

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 the end of the month in which the Payment for...

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 about the impact of the Act on their property and...

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 sale of Gold Jewellery, Coins, Bars etc The physical gold...