Taxmantra Global is battle-ready for the COVID-19 outbreak with full client delivery capability intact

At the time of penning this, the COVID-19 crisis is increasing exponentially all over the world. Global leaders and organizations are doing their best to manage this crisis. Even so, the boundaries are getting severely stretched. However, it is not just a macro crisis that needs to be handled at a global level.

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Long Term Capital Gains on sale of equity shares or units of equity oriented funds – Exempted f...

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

Capital gains from Shares is the gain or profit arising from the sale or transfer of shares effected during the accounting year under con...

Long Term Capital Gain – Option to the assessee

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

As per Section 112(1) of the Income Tax Act, 1961 (the Act), in case of long term capital gain (LTCG) (other than LTCG on equity shares a...

Tax Free Perquisites in case of salaried individuals

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

Every salaried individual is entitled to perquisites or perks. It is defined as any casual emolument, fee or profit, attached to an offic...

Housing loan & other deductions from House Property Income

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

Income from House property is computed by taking what is called Annual Value.  From this, deduct Municipal Tax paid and you get the Net ...

File Tax Returns/ IT Returns even if tax is deducted at source (TDS)

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

Filing of return is the constitutional duty of every individual as it earns the dignity of consciously contributing to the development of...

Taxability of Short Term Capital Gains on equity shares and units of equity oriented fund

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

Immense changes are taking place in the Indian Economy due to the massive structural, trade and industrial policy reforms which have crea...

Turnover of share broker for audit purpose – Entered into on behalf of the client

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

“Share Broker” is an agent that charges a fee or commission for executing buy and sells orders submitted by an investor. He sells or ...

Cost of Acquisition in case where asset is not acquired by way of purchase – Capital Gain Tax

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

The term “Cost of Acquisition” plays an important role while computing the income under the head “Capital Gain”. It basically ref...

Allowable deductions while computing income from house property

Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017

Income from House property is computed by taking what is called Annual Value.  From this, deduct Municipal Tax paid and you get the Net ...

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