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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File Tax Returns/ IT returns on time to carry forward losses

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

It is advisable to file your income tax return within due date even in case of loss otherwise the benefit of carry forward of loss will n...

Taxability of Retrenchment Compensation

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

“Retrenchment” means termination by the employer of service of a work man for any reason other than as a punishment inflicted by a di...

Taxability of various Perquisites – received by salaried individuals

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

Perquisites are various non-wage compensations provided to employees in addition to their normal wages or salaries. These are the benefit...

Long Term Capital Gain And Short Term Capital Gain

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

A capital gain is a profit that results from investments into a capital asset, such as stocks, bonds or real estate, which exceeds the pu...

File your Tax Returns / IT Returns Early – Avoid Last Minute Rush

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

Again it is that time of the year when all your income for the current financial year is in and you need to file your income tax returns ...

Computation of turnover for speculative transactions, derivative transactions, futures and options

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

Today the capital market has assumed a very significant place in our country involving speculative transactions, derivative transactions,...

Income Tax on Rental Income – House Property Tax

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

House Property is regarded as a source of income for Income-tax purposes. For this purpose Income Tax Act, 1961 (the Act) classifies R...

Transport Allowances – Salaried Individuals

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

Most of the salaried individuals are provided transport allowance by their employers for the purpose of commuting between the place of th...

Taxability of Arrear Rent – Under Income from House Property

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

Arrear Rent refers to the rent of the prior period received in the current year due to reasons like increase in the amount of rent with r...

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