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income from business and profession


Undisclosed income of Rs 21354 cr detected in last 2 years

There is no official estimation of the amount of black money stashed away abroad Various non governmental organizations and economists in the past have indicated certain estimations of illicit financi

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IT dept to issue 7 lakh letters seeking information in respect of high value non PAN transaction

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 21st July 2016 Sub Income Tax Department to issue 7 lakh letters seeking Information in respect of

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Detection of black money by Government

Recognizing various limitations under the existing legislation Income tax Act 1961 etc the Government enacted a new law The Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act

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Time Schedule revised for making tax payments under IDS Scheme

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 14th July 2016 Sub The Income Declaration Scheme 2016 Relaxation of time schedule for making payme

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Govt clarifies effective tax rate is 45% and not 31% under income declaration scheme

Circular No 27 of 2016 F No 142 8 2016 TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division Dated 14th day of July 2016 Clarifications on the In

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Experts Opinions

Income tax disclosure

The assessee is private limited company while filing income tax due to oversight it has claimed higher rate of depreciation since last 5 years Can company disclose this amount of excess depreciation a

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Disclosure of family pension in income tax return

Sir Madam In which ITR form i use to disclose the family pension under the head other sources of assessment year 2016 17

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Income tax challan

I have paid income tax for FY 2015 2016 Self assessment tax from axis bank website However before i could save the challan the net stopped working When it did started to work i couldnt save the challa

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Income recognition

Dear Sir How income will be recognize of investment in shares

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54b of income tax act

Dear sir and everyone Whether benefit of Section 54B of Income Tax Act is available to HUF before amendment in 2013 This is like directory n clarificatory n explanatory in nature Any case law

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Income tax return

HI Everyone One of my friend had left his job in december 31st 2015 and started working with a new company from jan 4th 2016 as a professional Consultant The new company pay him after deducting TDS 10

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I need income tax consultant for efiling

I need income tax consultant for efiling plz share your details

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Tds interest as other income source

in FY 2015 16 I GOT TDS refund with interest while filing itr now do i have to mention the interest amount as other income source i already filed itr without mentioning any thing about the tds return

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Two joint property & income from joint propery

I have a joint property One with my wife Other with my son Joint property i e a flat was bought in 2011 with the amount derived as pensonary benefit after retirement and my wife availed a home loan fr

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Income tax case

Assessee has received gift from his grandmother in contemplation of her death assessee showed this in his statementsbut it is not acceptable to asessing Officer on groud that the gift loan could not b

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File Download

  • Assessment Procedures, Income Tax Act, 1961

    Revised version with small corrections Assessment Procedure overview has been given with the help of Flowcharts gives you a brief idea of the Procedures Very helpful in studies as well as at your office


  • CA Final DT Laws-Must read -Treatment of Business Issues N16

    Entire syllabus of Direct Taxes covered in less than 200 pages without diluting the syllabus Easy to cover syllabus in a week who is in employment and unable to complete portion in time Finance Act 2015 are duly incorporated Applicable for November 2016 for following professional examinations 1 CA Final Paper 7 Direct Tax Laws 2 C M A Intermediate Paper 4 Direct Taxation 3 C S Executive Paper 7 Tax Laws and Practices Best of luck


  • Income tax calculator And advance tax calculation

    Version 6 1 Income tax calculator Individual Company and Firm Following type income calculate tax 1 Salary income 2 House property 3 PGBP Income 4 Capital gain U s 111A U s 112 and Normal capital gain 5 Other source income 6 Agriculture income 7 interest U s 234A 234Band 234C Also HRA calculation


  • Deduction from Total Income



  • Case laws in Sept 2014

    Case laws decided under Income Tax in Sept 2014


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Netaji, aap income tax return file karo, to hum tumare saath hai?

Arjuna Fictional Character Krishna the Maharashtra Election Commission has cancelled registration of 191 political parties for not filing income tax return and audit report What will happen and what w

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Top 5 skills every professional needs to master

1 Communication Skills One must communicate clearly effectively and with confidence to be successful at workplace It is essential to put forth your ideas in an engaging way to progress 2 Networking Sk

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Business plan for a Budding Investment Advisor - Shri.Boodhimaan

I had some deep thoughts in 2006 my year of passing CFP about my future as a Fee Based Financial Planner in this countr I was very excited when I read news articles and FPJ the official magazine on FP

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Why filing of Income Tax Return before 31st July is Important?

Arjuna Fictional Character Krishna July month has started It is said that income tax return has to be filed in this month So who are required to file income tax return before 31st July and what care t

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Section 115-UB Tax on income of investment fund and its unit holders

Introduction Its Applicability Section 115 UB of Income Tax Act 1961 shall be inserted by the Finance Act 2015 and is applicable w e f 01 04 2016 Extract of Budget Speech 15 16 I propose to undertake

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Updated on : 7/23/2016 11:01:09 PM


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