Adhering to tax-related compliance proposed by the Indian government is mandatory for taxpayers in India. Taxpayers can also avoid heavy penalties and fines imposed by the government by filing their Income Tax returns on time. Here are some of the major due dates concerning various tax compliance for the September 2021 Read more…
A farmer wants to shift to another village for a certain reason and hence he sold his old agricultural land and from the sale proceeds, he purchased another agricultural land. In this case, the objective of the seller was not to earn income by the sale of old land but Read more…
We all know that on selling or transferring Capital Assets either long term or Short term, capital gains arise which are taxable in the hands of the taxpayer. Let’s understand with the help of an example Mr. Jorden purchased a house for Rs. 50 Lakh in July 2012. The full Read more…
We all know that on selling or transferring Capital Assets either long term or Short term, capital gains arise which are taxable in the hands of the taxpayer. Let’s understand with the help of an example Mr Jorden purchased Jewellery for Rs. 50 Lakh in July 2012. The full value Read more…
We all know that on selling or transferring Capital Assets either long term or Short term, capital gains arise which are taxable in the hands of the taxpayer. Let’s understand with the help of an example Mr. Jorden purchased a house for Rs. 50 Lakh in July 2012. The full Read more…
In this article we will learn about What is Capital Gain Definition of Capital Assets Short Term Capital Assets Long Term Capital Assets Capital Gain Exemptions Case Study FAQ What is Capital Gain ? Any profit or gain that arises from the sale of a ‘capital asset’ is a capital Read more…
Example: Jorden bought a house in Aug 2005 for Rs 50 lakh, and sold the same in FY 2016-17 at Rs 1.8 crore. This property has been held for more than 3 years, this would be termed as a long-term capital asset. Using the indexed cost of acquisition, the adjusted Read more…
Adhering to tax-related compliance proposed by the Indian government is mandatory for taxpayers in India. Taxpayers can also avoid heavy penalties and fines imposed by the government by filing their Income Tax returns on time. Here are some of the major due dates concerning various tax compliance for the August Read more…
Section 193 deals with the provisions relating to TDS on interest on securities. Before going to the section lets understand what Interest on Securities means As per section 2(28B) of the Income Tax Act, “interest on securities” means any interest on security (issued by the government whether state or central) Read more…
The pandemic strikes even harder than the last year. The situation is getting worse everywhere but simultaneously it is important for the businesses to stay compliant with various compliance during the month. Please refer to various due dates for the month of June 2021 07-June Due Date for Payment of Read more…