Income Tax Articles

Inflation Cost - Allowability under Business Head of the Income Tax Act,1961

Raghavendra Prasad M 23 November 2013 at 13:45

Sri S.S.Tarapore, retired Dy. Governor , Reserve Bank of India, and a popular columnist in The Hindu Business Line, Eenadu dailies time and again requests the RBI authorities to do justice to the poor depositors by payi

HRA a tool of tax planning: Queries

CA Chandra Kishore Bajpai 20 November 2013 at 11:12

Few days back ( on 13th Nov 2013)I posted an article on exemption from house Rent allowance House Rent Allowance-A tool of Tax planning for employees Really I feel very happy to see the responses to the article and good to know that pe

Karniti Part:11 "Sachin" like Retirement & its Financial Planning

CA Umesh Sharma 18 November 2013 at 12:55

Karniti Part 11 (Sachin Tendulkar Special)Sachin like Retirement and its Financial PlanningKeeping conversation between Lord Krishna and Arjuna as the foundation we will learn certain basic financial and tax matter. Let us try to get an

House Rent Allowance - A tool of Tax planning for employees

CA Chandra Kishore Bajpai 13 November 2013 at 12:40

House Rent Allowance (HRA) is second component which is found in each pay slip after basic salary. This is the major contributor in tax relief for the employee who reside in rented house during his/her employment.Generally employee submits Rent recei

Karniti Part-10: After Diwali,Take care of health exps & Income Tax

CA Umesh Sharma 12 November 2013 at 17:54

Medical Expenses and Income Tax Arjuna: Madhava, just now Diwali festival has been celebrated. On the occasion of Diwali, we have discussed how books of accounts to be maintained and if one has to start new business then which tax laws are required

Shastrarth: Taxation of Gifts on Diwali

Abhinav 07 November 2013 at 12:04

Shastrartha: Taxation of Gifts received on Diwali Man: Hey Lord! The festival of Diwali has brought us closer to our relatives. The exchange of blessings, gifts, sweets arouses the love that exists amongst us. God: It is good to enjoy but never fo

Karniti Part9: Starting New Business! Follow the Laws!

CA Umesh Sharma 05 November 2013 at 12:25

Arjuna: Dear Krishna, After Laxmipujan, on Padva, New Year is starting. Many new business ventures and activities are inaugurated on this auspicious occasion. In Diwali festival this day have a great importanc

Karniti Part8: Maint & Workship of Books of Accounts in Diwali

CA Umesh Sharma 31 October 2013 at 12:44

Maintenance of Books of Accounts and their Workship on the eve of Diwali Arjuna: Krishna, the festival of Diwali has arrived. Housewives (Gruhlaxmi) are busy in cleaning and decorating homes. Businessmen are also busy in the market. Accordingly plea

The Reality about Realty!

Prof. Bajaj 28 October 2013 at 12:11

Trust me Sir, real estate will always give you best returns. The prices cannot go down and you will be double your money in 3 years. I think you should book this flat. said Kunjan Srivastav, a seasoned real estate broker to his potenti

Tax treatment of Agricultural Income

CA Manish 24 October 2013 at 12:19

Agricultural Income Tax treatment / Taxability Agricultural Income : Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not taxed. The reason for exemption of agricultu