Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 24, 2011
Under the Indian Income Tax, any profit or gain arising from the transfer of capital assets is taxed at special rate under the head “Ca...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 23, 2011
Life insurance allows an individual to provide the financial security to the family member and protects them from uncertainties and event...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 23, 2011
Timely and effective tax planning can play significant role in reducing overall tax liability of an Individual. Income tax planning must ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 22, 2011
Yes, it is true that Individuals and HUFs are required to file their income tax return/ return of income only if their income before allo...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 21, 2011
Filing of income tax return also called online income tax filing is mandatory for every individuals having taxable income exceeding the b...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 21, 2011
A non-resident individual, under the scheme of Income Tax Act 1961, becomes liable to tax in India in respect of income arising or accrui...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 21, 2011
An individual is said to be a resident in India, if he satisfies any one of the following two conditions (i) He is in India for a period ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 21, 2011
Taxability of Salary received from Indian company- Salary income of non-resident received or accrued in India shall be taxable in India. ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 19, 2011
After filing the return of income, the same is processed by the department for verification purpose, where processing is completed by the...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 18, 2011
Payment towards premium of life insurance policy and medical insurance policy gives an individual’s family the financial security neede...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 17, 2011
In continuation of the last article with respect to exempt income, here’s the list of some more incomes which are also exempt from tax ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Feb 16, 2011
Every income received by an individual whether in cash or in kind is chargeable to tax but there is still some specified incomes which ar...