In a latest development, Delhi Police Cyber Crime Cell has arrested 12 persons including 3 HDFC Bank employees for fraudulently attempting to siphon money out of a dormant account belonging to an NRI.
Discussing an interesting situation and taxability of an individual after his separation from HUF i.e. Whether a person will be taxable under dual capacity as an ‘Individual’ as well as 'Karta' after separation from HUF?
Any profit which is earned by transferring a capital asset will be known as capital gains, and it will be taxable under the head Income from Capital Gains if the transfer was made in the previous year.
Deductions are typically expenses that the taxpayer incurs during the year that can be applied against or subtracted from their gross income to figure out how much tax is owed.
People like Bill Gates, Al Gore, and Richard Branson believe that this is where the future rests, while scholars like Warren Buffet, Paul Krugman, and Richard Schiller see it as a Ponzi scheme.
Income from salary is the remuneration that is received by an individual who is rendering services under any contract which is taken by him. The contract should be under employment.
An investor can claim deduction up to Rs. 1,50,000/- u/s 80C for investments made in SIP. However, deduction is available only if the SIP is of an Equity Linked Savings Scheme Mutual Fund.
Rebate under section 87A of the Income Tax Act is a provision that helps taxpayers to reduce their tax liability. This section is available to people whose income do not exceed Rs. 5 Lakhs.
With the development of Alternative Disputes Resolution, certain dispute resolution techniques have evolved that result in a much simpler, faster and peaceful solution, than the court remedy.
It has been seen that most of the startups, MSMEs, and entrepreneurs are either unaware of available schemes or reluctant to avail its benefits due to a cumbersome application/approval process.
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