PART A The government’s focus on fintech, financial inclusion climate action find an early mention in Sitharaman’s prefatory remarks. The finance minister paints a robust picture of the economy as she starts her speech and adds this budget will lay the ground for the next 25 years. Sitharaman points to Read more…
What is MAT? Imagine companies making millions of cash flow however end up paying nil taxes by taking advantage of depreciation, deductions, exemptions, etc from the government. So the government imposes a MAT as an advance tax on these companies. This makes the companies give at least a minimum amount Read more…
If you are thinking to start a new manufacturing business then India is the place to start your business. To boost manufacturing in India and make in India, the government introduced a concessional Tax rate of 15% instead of 22% as specified for a domestic company. However below points to 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…
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…
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…