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.
News & FAQs | By ALOK PATNIA | Last updated on May 5, 2011
The Central Board of Direct Taxes (CBDT) has given a breather to individual tax payers from declaring high-value transactions with banks,...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The contribution by the employer is not taxed if it does not exceed 12 per cent of the employee’s salary (excluding allowances and perq...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Every individual and HUF taxpayers are entitled to a deduction of an aggregate amount paid or deposited in the specified items, subject t...
News & FAQs | By ALOK PATNIA | Last updated on May 1, 2011
In our country it is common to incur astonishing amount of expenditure at the time of marriages, both from bride’s side and also from b...
News & FAQs | By ALOK PATNIA | Last updated on May 1, 2011
The income tax act provides excellent opportunity for tax planning and also for creating wealth, by way of exemption granted with respect...
News & FAQs | By ALOK PATNIA | Last updated on May 1, 2011
The provision states that, if the aggregate sum of money received during any financial year without consideration exceeds Rs. 50,000 by a...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
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 | Last updated on Oct 5, 2017
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 | Last updated on Oct 5, 2017
Income Tax Act, 1961 provides certain exemption on capital gain income earned vide section 54, 54B, 54D, 54F, 54G and 54GA. These exempti...