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Income Tax

Union Budget
Income Tax

Union Budget Summarised in 40 points

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…

By akash, 4 monthsFebruary 1, 2022 ago
What is MAT
Income Tax

Easy Guide to Minimum Alternate Taxes ( MAT). Explained by J&S

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…

By akash, 4 monthsJanuary 5, 2022 ago
Section 115BAB
Income Tax

Section 115BAB – Concessional Income Tax

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…

By akash, 5 monthsDecember 9, 2021 ago
Compliance Calender
Latest Upd

September 2021 – Compliance Calender

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…

By akash, 8 monthsSeptember 6, 2021 ago
Section 54
Taxation

Analysis of Section 54 of Income Tax Act

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…

By akash, 9 monthsAugust 16, 2021 ago
Capital Gains - Section 54F
Taxation

Analysis of Section 54F of Income Tax Act

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…

By akash, 9 monthsAugust 16, 2021 ago
Section 54EC
Taxation

Explanation to Section 54 EC of Income Tax Act

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…

By akash, 9 monthsAugust 16, 2021 ago
Guide to Capital Gain Taxation
Taxation

Comprehensive Guide to Capital Gain Taxation in India

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…

By akash, 9 monthsAugust 16, 2021 ago
Capital Gains exemption
Taxation

List of Exemption available on Capital Gains

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…

By akash, 9 monthsAugust 16, 2021 ago
Recent Posts
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  • Basics of GST – Slab Rates
  • Union Budget Summarised in 40 points
  • Easy Guide to Minimum Alternate Taxes ( MAT). Explained by J&S
  • Various Slab Rates under GST?
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