Income Tax Articles
Taxation of heriditary LIC insurance commission
TAXATION OF HERIDITARY LIC INSURANCE COMMISSION- A STUDYSIVADAS CHETTOOR BCOM FCA LLMINTRODUCTION:- The brief study in this article relates to some legal and taxation issues connected with the receipt of hereditary commission by nominee or legal heir
Loveonomics and its taxation
Karneeti Part 75Loveonomics and its taxationArjuna (Fictional Character): Krishna, 7th February to 14th February is celebrated as Valentine Week all over the World. This is celebrated by giving gifts and wishes and for that the markets were ready. Th
TDS u/s 195- Interesting Cases
Peculiar Cases where Courts held Assessee Liable for Deduction of TDS u/s 195Withholding taxes u/s 195 in respect of transactions with Non-Residents has always been a bone of contention between Assessee and tax authorities. Though liability for deduc
Rejection of Books of Account - Sec 145 of Income Tax Act 1961
145(1) Income Chargeable under the head Profit and Gains of business or profession or Income From other sources shall, subject to the provisions of sub section(2), be computed in accordance with either cash or mercantile system
Income tax slab rates of 24 years
INCOME TAX SLAB RATES FOR MALE ASSESSEEFROM ASSESSMENT YEAR 1992-1993 TO ASSESSMENT YEAR 2015-2016 Hello readers, I found many persons searching sites here and there for slab rates of some previous years, purchasing books for the purposae of making a
Bad Debts allowable under IT Act- An anaysis
Hello friends!!! greetings of the day. Writing an article after a long time.In this article an attempt has been made to highlight the pros & cones with respect to allowance of bad debts under the I.T Act.Bad debts[Sec 36(1)(vii)-Allowed as deduc
Second Home: Problematic in Real life as well as in Income Tax?
Karneeti Part 74Second Home: Problematic in Real life as well as in Income Tax?Arjuna (Fictional Character): Krishna, Recently Reserve Bank has reduced the Repo Rate leading to reduction in the Rate of Housing Loan. It may be easier for
Investment in fixed deposits - Income tax deduction for Aam Aadmi
INVESTMENT IN FIXED DEPOSITS INCOME TAX DEDUCTION FOR AAM AADMIHello readers , Many of the assessees and their advisors which I came across have doubts regarding the claim for deduction under section 80C on Investments in term deposits with sc
All about form 15ca and 15cb
1. Why Form 15CA? Form 15CA is a Declaration of Remitter and is used as a tool for collecting information in respect of payments which are chargeable to tax in the hands of recipient non-resident. This is start
Tax Glossary
To understand the subject of taxation very first of all we all have to understood the basic concepts relating to taxation just like we have to go through for driving rules before we learn to drive a Car or many times it ha
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