Direct Taxes (including International Taxation) | By ALOK PATNIA | May 1, 2011
Every individual and HUF taxpayers are entitled to a deduction of an aggregate amount paid or deposited in the specified items, subject t...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 30, 2011
Rent and other income from any flat, building or land appurtenant thereto is usually taxed under the head “Income from House Propertyâ€...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 30, 2011
Capital gain shall arise under section 47 (iii), in case of shares, debentures or warrants which have been transferred by way of gift or ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 30, 2011
Income Tax Act, 1961 provides certain exemption on capital gain income earned vide section 54, 54B, 54D, 54F, 54G and 54GA. These exempti...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 30, 2011
The Income Tax Act, 1961 grants exemption of capital gains arising from the transfer of residential house property under section 54. Cond...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 30, 2011
If you have transferred long term Capital asset during the previous year and on the same if you have earned capital gain, usually you hav...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 29, 2011
Interest Payable by an assessee in respect of funds borrowed for the acquisition or construction of a house property and pertaining to a ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 29, 2011
The Indian Income tax has provisions for tax exemptions of compensation received at the time of voluntary retirement or separation is exe...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 29, 2011
The Public Provident fund (PPF) still holds as one of the best tax saving and investment plan especially for salaried Individuals. Invest...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 29, 2011
In general, a pension is an arrangement to provide salaried with an income when they are no longer earning a regular income from employme...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 29, 2011
The value of benefit to the employee (or any member of his household) resulting from the provision by the employer of services of a sweep...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 29, 2011
Salaried individuals in addition to their usual monthly take aways, get perks or additional benefits, one of such is provision of gas, el...