Income Tax Articles
Stability of Laws is not undesirable
If there were to an international survey on stability of tax laws or the absence of it, India should undoubtedly be at the top in absence of it. Governments, both state and centre, work overtime to churn out amendments and new circulars/notifications
Karniti Part-16: Tax planning for Children is not a child's play
Income Tax planning for Childrens is not a childs play.Arjuna (fictional character): Dear Krishna, the festival of Christmas is being celebrated all over the world very joyfully. In this festival Santa Clause make exchange of gifts to a
Rent Free accommodation and Taxation
When employer provides employee facility of rent free accommodation. value of it is taxable as a perquisites in salary head of income tax.For calculating perquisites value taxpayer has to follow two steps.step 1: find out unfurnished accommodatio
Loan provided to employees- Perquisite calculation - Part II
In an earlier previous post, we had a look at the basis of perquisite calculation on loans provided to employees and members of their household. According to Rule 3 (7)(i) of the Income Tax rules, the taxable value of benefit an employee derives on a
Power to call for general information u/s 133(6)
POWER TO CALL FOR GENERAL INFORMATION U/S 133(6) OF THE INCOME TAX ACT 1961- A STUDY INTRODUCTION:The Hon Supreme Court of India, in August 2013, pronounced its judgment in Kathiroor Service Cooperative Bank Ltd & Others V Commissioner of
Loan provided to employees- Perquisite calculation - Part I
We find many payroll managers being unaware that loans provided to employees (by the employer) are taxable in the hands of the employees. The typical reactions (from payroll managers) we come across when we talk about taxability of loans provided to
Karniti Part-13: Dear, Pay tax on "House" and Relax at "Home"
Taxation on Purchase or Sale of House PropertyArjuna(fictional character): O Lord Krishna, food, clothes and house, being the basic necessities of life, hold an important place in human life. But nowadays lot of money is needed to buy or construct a
Karniti Part-12: Income of Trusts, then follow & trust Indian law
Finance and Income Tax of Charitable TrustsLet us try to get answers to our questions in a bit different and joyful manner. The fictional character of Arjuna will be played by the common man or tax payer and the fictional character of Krishna the Exp
Calculation of Tax Exemption on LTA
In an earlier post we looked at the conditions governing tax exemption on leave travel allowance (LTA). In this post we will look at the calculation of the tax exemption amount. As mentioned in the earlier post, the exemption is available only on tra
Inflation Cost - Allowability under Business Head of the Income Tax Act,1961
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
Popular Articles
- Post Office Interest Rates From October 2026: Check the Latest Rates of All Schemes
- New UPI Rules Starting From 15th October 2026: Complete Fee Structure for Transactions
- Post Office Fixed Deposit Interest Rates: Latest Update for October 2026
- Tax Audit Deadline AY 2026-27: Penalty for Missing 30 September and Why an Extension Request Isn't an Extension
- TDS on Purchase of Property: New Reporting Rules From 1st October 2026
- TDS on Contractor for FY 2026-27: Rates, Limits, New Rules, Examples & Compliance Guide
- New Tax Regime FY 2026-27: Complete Slab, Rebate & Marginal Relief Reference
- Senior Citizen Saving Scheme Latest Interest Rate From October 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
