Income Tax Articles
Deferred Tax Introduction
Deferred tax When we look out for the meaning for "Deferred�" it means to Postpone or delay. Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet.With coming of finan
Already retired? Then this is what you have to follow now!
If you are already retired, what you really need is a retirement solution. Let�s begin by discussing the uniqueness associated with building a portfolio for retirees.Firstly, the importance of capital preservation gets magnified manifold. The r
Common mistakes in filling of Income Tax Return
The accurate and complete filling up of the relevant column or detail in the Income Tax Return (ITR) form is most crucial for correct calculation of income.
Taxation on Investors and Traders
Investor or Trader?According to Central Board of Direct Taxes(CBDT): Investor: anyone who invests with the intention of earning through dividends Trader: anyone who buys and sells with the intention of profiting from
Section 44AD of the Income tax Act after Budget 16
SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS(After Budget 2016)This section is nothing but provides a relaxation to the tax payers to declare income on presumptive basi
General Question Regarding Income-tax
General Question Regarding Income-tax 1. What is Income Tax? It is a tax imposed by the Government of India on any body who earns income in India. This tax is l...
Wealth Tax Basic Provisions
Assessees Liable to Wealth Tax (Section 3)Wealth Tax is charged for every assessment year in the hands of individuals, HUFs and all companies (private as well a...
Section 43 B of income tax act,1961
Section 43 B (Allowance Of Deduction on Payment Basis)If the assessee follows mercantile system of accounting actual payment of expenditure during the P.Y is no...
Now everyone has to pay 1st installment of advance tax before 15th June!
From F.Y 2016-2017 the first installment of advance tax will have to be paid on or before 15th�June and later the remaining in aforesaid 3 installments.
Cyprus to follow Mauritius route
A delegation from Cyprus is likely to visit New Delhi later this year to discuss various clauses of the double taxation avoidance agreement (�DTAA�) between the two country.It is likely that Cyprus shall allow India to tax capital gains t
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