Charitable Trust : How Taxed If Lost Exemption u/s 11 & 12 ?

    charitable trust

    We all know that the charitable trusts get the tax exemption under section 11 and section 12 . So , if charitable trust is not bothered about taxation part. But once , for various reason , a charitable trust losses the tax exemption , the taxation of income of a charitable trust becomes a complex...

    Taxation of Political Parties : Everything You Ever Wanted to Know !

    taxation of political parties

    There is great interest in political parties funding and use of black money. Every time , one talks about the funding of political parties in India , the taxation provisions comes into picture. Fo readers , an easy to understand video and frequently asked questions have been prepared . It is suggested that first the...

    Section 80G Deduction Calculator !

    Deduction u/s 80G

    Section 80G of the Income Tax Act provides the deduction for donations to all kinds of assessee –from Individual to Company. However, the real puzzle for a simple taxpayer is to know how deduction is available , because donation to all the organization , do not entitle same amount of deduction while computing total income....

    Assessee Expired After Selling House ? Can Legal Representative Claim Exemption u/s 54 or 54F ?


    The unfortunate situation that an assessee sold the property – house or any other long term capital asset , but before he could either buy the new residential property or construct the house , the untimely death knocked at the door and family lost him. The legal representative of the deceased person will have to...


    stock register

    No Penalty for Not Keeping Stock Books or Registers !

    Many times the assessing officer carries survey u/s 133A of the Income Tax Act and one of the finding may be not finding the stock books or registers. For such a lapse on part of b Full Story »

    Investment Guide

    debt funds

    4 Reasons Why Debt Fund is Still Better Than Fixed Deposits !

    This site had earlier posted an article Tax Planning :Debt Funds better Than FD , It Gives Tax Free & TDS Free Return ! That article was written when the debt mutual fund was b Full Story »