Income Tax Articles
Comparison of Union Budget 2016-17 vs. Budget 2015-16
India�s Union Budget 2016-17 was presented by Finance Minister Arun Jaitley when we are evidencing the global economy in a serious crisis. Over the last two years, global growth has contracted
Fair, Lovely & Ugly From Jaitley's potli
Arjuna (Fictional Character): Krishna, Government has announced Budget on 29th February 2016 for the Year 2016-17. On this Various persons expressed their views. As every coin has two sides, likewise
Term Insurance or Traditional Insurance
Hello Everyone, As we have entered in the last month of our Financial Year, a handful of my friends would have their tax saving investments on place but the majority of my friends be it salaried or self-employed is gonna start head hunting for Tax Sa
Income declaration scheme 2016 - Salient Features
The finance minister has brought in one more opportunity to bring black money into books of accounts by announcing the "INCOME DECLARATION SCHEME 2016" in the Finance Bil
Minimum Alternate Tax-In Most Simple manner
The concept of MAT was introduced under income tax act to tax companies having profit as per books and declaring dividends but have no significant taxable income because of exemptions, deductions, incentives and tax holidays available to them. The in
Surplus on sale of shares and securities- Capital Gains or Business Income
Issue of taxability of surplus on sale of shares and securities � Capital Gains or Business Income � Instructions in order to reduce litigation � reg.1. Sub-section (14) of Section 2 of the Income-tax Act, 1961 (�Act�) d
Budget 2016-17- Income Tax & some other comments
Introduction: This year's overall �Union Budget is �just� like an election budget- trying to please more of �poor voters-nothing is wrong in it but schemes launched for them must be strictly
Clarification on taxability of withdrawal of accumulated balance in the provident fund
The section under discussion:Section 10 (11)Section 10 (12)Rule 8 of Part A of the fourth scheduleExtract of above section from the Income Tax Act, 1961:10 (11) any payment from a provident fund to which tmhe Provident Funds Act, 1925 (19 of 1925), a
Amendments in TDS shall be substituted w.e.f 01.06.2016
S.no Changes In following particulars Change in Existing provision Old Provision 1. In Sec 192A, �Payment of accumulated balance due to an employee� New Exemption Limit exceed t
Budget Highlights 2016
Three major schemes have been introduced to help the underprivileged: Pradhan Mantri Fasal Yojana, Health insurance scheme, launching initiative to ensure LPG connection for BPL families. Focus to pass GST and bankruptcy c
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