Income Tax Articles

Equalisation Levy in Income Tax Act, 1961

CA Santhosh Gupta Kethepalli 06 July 2020 at 11:47

Transformation by CBDT from Taxing Business Income to Business Transactions

Some facts related to "Equalisation Levy"

FCS Deepak Pratap Singh 06 July 2020 at 09:11

CBDT has issued a notification dated 27th May 2016 stating that provision of chapter VIII relating to equalization levy would come into effect from 01st June 2016.

Income from house Property: A Notional Head of Income

CA Mehul Thakker 06 July 2020 at 09:11

Annual value of house property shall be assessed under this head even if assessee is not in receipt of actual rent income. And such annual value shall be determined in accordance with section 23 of the Act.

HUF - A boon for all Hindu households!

CA (CS) Ujjwal Jindal 04 July 2020 at 11:51

The system is an extended family arrangement prevalent throughout the Indian subcontinent, consisting of many generations living in the same home, all bound by the common relationship.

Mutual Funds Sahi Hai - Tax perspective?

Bhavin Shah 04 July 2020 at 11:11

Mutual Funds Sahi Hai - Tax perspective?

Taxation of companies after the taxation laws (amendment) ordinance ,2019

FCS Deepak Pratap Singh 03 July 2020 at 10:30

Taxation of companies after the taxation laws (amendment) ordinance ,2019

Measures to discourage Cash Transactions and to promote Digital Economy by CBDT

CA Santhosh Gupta Kethepalli 02 July 2020 at 10:33

Sections 269SS and 269T which deals with cash payment and repayment of loans and deposits. Both the sections were introduced to curb the black money. Tax evasion is one of the serious problems in India causing economic disparities.

Five Major Finance Changes effective from 01.07.2020

CA Rahul Mittal 02 July 2020 at 10:32

Know the five major changes in Finance that will be effective from the 1/07/2020

Tax implications of cancellation of shares pursuant to capital reduction

Unnati Sharma 02 July 2020 at 10:32

As per the Act, capital reduction to the extent of accumulated profits is treated as deemed dividend under section 2(22)(d). Consequently, DDT under section 115-O was paid by the company. Accumulated profits for this purpose shall include all profits of the company upto the date of such distribution or payment whether capitalised or not

Amendment to section 44AB in Budget 2020

Unnati Sharma 02 July 2020 at 10:32

Section 44AB of the Income Tax Act provides that every person is required to get his accounts audited if his Section 44AB of the Income Tax Act provides that every person is required to get his accounts audited if his