Income Tax Articles
NOTES ON INCOME FROM CAPITAL GAIN
TRANSFERIt includes sales, exchange, redemption of zero coupon bonds and sale of anycapital asset with consideration. SHORT TERM CAPITAL GAINFor shares, securities hold for 12 months or less.Other assets hold for 36 months or less.For the following
Section 23(5) - Taxing of notional income in the hands of real-estate developer
Section 23(5) of the Income Tax Act -Explained
Union Budget 2010 - Income tax amendments
Union Budget 2010 - Income tax amendments
Details to be filled in new ITR 1 Sahaj
New ITR form- ITR 1 Sahaj The new ITR form for the AY 2017-18 has been introduced. It is simpler than the previous version and has fewer columns to be filled.
New Pension Scheme(NPS)
To relieve the retired person, as well as reduce the cost to the government, NPS or the New Pension Scheme was introduced in the year 2004
PAN without Aadhaar is invalid PAN
If you do not have Aadhaar Linked to PAN, PAN will be deemed to be invalid. Hence, from 1st July, 2017, PAN will go along with Aadhaar in order to be valid.
How to Reset Your Income Tax E-filing Password? - If unable to reset through forgot password options.
Resetting Income tax e-filing password is not so difficult for a taxpayer but it becomes difficult when the mobile no. and email id. is not belongs to the taxpayer.
House Rent Allowance: A Tax Saving Lifeline For Salaried Person
House Rent Allowance (HRA) is generally considered as a part of salary component and is generally added in the salary structure to help the individual to save tax
Deduction u/s 24(b), HRA exemption & interest capitalisation
Assessee claim deduction of Interest on Housing Loan to acquire house property u/s 24(b) and simultaneously HRA exemption on rent paid (if he resides in property other than acquired). Further upon sale of said property, interest already claimed as de
House Rent Allowance (HRA) Vs. Rent Free Accommodations (RFA)
House Rent Allowance (H.R.A.) results in tax savings because accounting under Income tax act is direct exemption based. However, accounting of Rent Free accommodation is valuation based taxation and added to total income of employee presumptive basis
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