News & FAQs

Budget 2012 – Impact on Professionals

News & FAQs | By ALOK PATNIA | Apr 4, 2012

Proposed budget has laid various positive and negative impacts on the income of the professionals. We will provide you with the changes i...

Budget 2012 Impact on Senior Citizen

News & FAQs | By ALOK PATNIA | Apr 4, 2012

Budget 2012, proposed by our Finance Minister will have impact on senior citizen also, but the most of the impacts are positive for them....

Income accruing to VCF / VCU to be taxed on accrual basis

News & FAQs | By ALOK PATNIA | Mar 31, 2012

Section 115U provides that income, in the hands of the investor through VCF / VCC is taxed in like manner and to the same extent as if th...

No tax on gifts to HUF – Budget 2012

News & FAQs | By ALOK PATNIA | Mar 31, 2012

This article brings into spotlight the benefits endowed upon HUFs via Budget 2012 proposals. Receipt of gift by HUF excluded from tax u/s...

Budget 2012 – Alternate Minimum Taxes for All

News & FAQs | By ALOK PATNIA | Mar 26, 2012

Under the existing provisions of Income Tax Act, 1961 AMT (Alternate Minimum Tax) was applicable only on Limited Liability Partnerships (...

Budget 2012 – TDS – Amendments and Implications

News & FAQs | By ALOK PATNIA | Mar 26, 2012

Newly Inserted Sections Section 194LAA Section 194LC Amendments in existing Sections Section 193 Section 194E Section 194J Section 194LA ...

Budget 2012 impact on Individuals

News & FAQs | By ALOK PATNIA | Mar 22, 2012

Budget 2012 announced by honourable Finance Minister will have impact on individuals also, be it salaried individual or self-employed.  ...

Income Tax Slab for Individuals – FY 2012-2013 (AY 2013-2014)

News & FAQs | By ALOK PATNIA | Mar 21, 2012

The Union Budget 2012-2013 announced by Finance Minister Pranab Mukherjee has amended the tax slab for Individuals. With regard to Indivi...

No More Presumptive Taxation Scheme for Professionals -44AD – Budget 2012

News & FAQs | By ALOK PATNIA | Mar 20, 2012

Budget 2012 has barred professionals for availing section 44AD (Presumptive Taxation Scheme) and the crucial thing is that it is proposed...

Expectations from Budget 2012

News & FAQs | By ALOK PATNIA | Mar 14, 2012

Upcoming Budget 2012 on 16th March by our Finance Minister will meet certain expectation of taxpayers and as usual will disappoint us in ...

Plan Your Taxes Now or Regret later

News & FAQs | By ALOK PATNIA | Jan 17, 2012

As we are standing in the last quarter of the FY 2011-12, last minute tax planning is the call of the day. Taxpayers under stress during ...

PPF – Tax Exemption

News & FAQs | By ALOK PATNIA | Jan 14, 2012

One should make investments which helps to save tax as well as earn maximum return on the said investment. Investment in Public Provident...

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