Articles by CA Mehul Thakker

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Concept of Inseparable Letting under Income Tax Act, 1961

Posted by CA Mehul Thakker 15 August 2020 6187 Views

Concept of Inseparable Letting under Income Tax Act, 1961

Concept of "Deemed Owner" under the Income Tax Act,1961

Posted by CA Mehul Thakker 08 August 2020 12417 Views

The head "Income from house property" is one of the significant heads of income while determining the total income of a taxpayer. This head is a notional head of income.

Section 35D of Income Tax Act - Few technical aspects

Posted by CA Mehul Thakker 01 August 2020 11144 Views

The term "Capital Employed" means the aggregate of the issued share capital, debentures and long-term borrowings, as on the last day of the previous year in which the business of the company commences.

Section 44AD of Income Tax Act - Few Technical Aspects

Posted by CA Mehul Thakker 18 July 2020 6669 Views

One of the salient features of section 44AD is that the deduction under section 30 to 38 shall be deemed to have been allowed.

Income from house Property: A Notional Head of Income

Posted by CA Mehul Thakker 06 July 2020 6349 Views

Annual value of house property shall be assessed under this head even if assessee is not in receipt of actual rent income. And such annual value shall be determined in accordance with section 23 of the Act.

Taxability of Capital Receipts under Income Tax Act, 1961

Posted by CA Mehul Thakker 25 June 2020 38660 Views

Whether the Capital Receipts which are not of recurring nature and more particularly of exceptional nature would fall within the meaning of Income?

Liability to deduct tax at source by individual and HUF under Finance Act 2020

Posted by CA Mehul Thakker 28 April 2020 2558 Views

Liability to deduct tax at source under section 194A, 194C, 194H, 194I and 194J was first introduced by the Finance Act, 2002 by inserting various proviso to the respective sections.Proviso to section 194A(1), Proviso to Section 194C(1), Second Proviso to 194H(1), Second Proviso to Section 194I(1), Second Proviso to 194J(1) were inserted by Finance Act, 2002 w.e.f. 01-06-2002