Income Tax Articles


Comparative study of Section 44AD, ADA and 44AE

  CA.R.S.KALRA    20 October 2021 at 09:55

Section 44AD is applicable to any business except those eligible for Section 44AE. Section 44ADA is applicable to all professions referred in Section 44AA. Section 44AE is applicable to businesses engaged in plying, hiring or leasing goods carriages.



Whether A Karta Will Be Taxable In Dual Capacity After Separation From HUF

  FCS Deepak Pratap Singh    20 October 2021 at 09:54

Discussing an interesting situation and taxability of an individual after his separation from HUF i.e. Whether a person will be taxable under dual capacity as an ‘Individual’ as well as 'Karta' after separation from HUF?



Income from Capital Gains

  Taxblock    20 October 2021 at 09:54

Any profit which is earned by transferring a capital asset will be known as capital gains, and it will be taxable under the head Income from Capital Gains if the transfer was made in the previous year.



Deductions under Income Tax

  Taxblock    20 October 2021 at 09:54

Deductions are typically expenses that the taxpayer incurs during the year that can be applied against or subtracted from their gross income to figure out how much tax is owed.



Income from Salary | An analysis

  Taxblock    19 October 2021 at 09:48

Income from salary is the remuneration that is received by an individual who is rendering services under any contract which is taken by him. The contract should be under employment.



Taxation of Mutual Fund SIP

  CA Umesh Sharmapro badge    19 October 2021 at 09:48

An investor can claim deduction up to Rs. 1,50,000/- u/s 80C for investments made in SIP. However, deduction is available only if the SIP is of an Equity Linked Savings Scheme Mutual Fund.



Rebate and Reliefs under income tax

  Taxblock    19 October 2021 at 09:48

Rebate under section 87A of the Income Tax Act is a provision that helps taxpayers to reduce their tax liability. This section is available to people whose income do not exceed Rs. 5 Lakhs.



Deemed Incomes Under The Income Tax Act

  Ritik Chopra    18 October 2021 at 15:20

Discussing tax treatment of cash credit, unexplained investments, unexplained money, amount of investments not fully disclosed in books of accounts, unexplained expenditure and amount borrowed on hundi in cash.



Taxability Of Income From Downlinking Television Channels In India By Foreign Companies

  FCS Deepak Pratap Singh    18 October 2021 at 09:50

Discussing the taxability of income of a foreign company for downlinking television channels in India and income from display of uncut and unassorted diamonds by a foreign citizen in the Bharat Diamond Bourse.



Tax implication on self generated goodwill when conversion of proprietor into partnership

  FCS Deepak Pratap Singh    16 October 2021 at 08:54

Where proprietor business is converted into a partnership, the exclusive interest of the proprietor is reduced and the business assets become sets of the firm in which he becomes a partner.




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