Don't Worry , Be Happy !
Perhaps everyone knows that the income of educational institutes are tax free. But what few people know is that the tax exemption to educational school or institutions are only when the profit isused for educational purpose .Then , the government brought in lots of conditions to check the tax free status of the schools and educational institutes.Up to...
The Finance Act 2013 has finally been passed and in a day or two will get assent from President of India also . Unfortunately , the President will have to sign a taxation provision which was proposed by him , but later withdrawn on protest from all. The provision was the insertion of a clause in section...
Search and seizure power to income tax authorities are provided under section 132 of the Income Tax Act. The power is vested under certain authorities with equal accountability and certain rights related to the search operation against a person is embedded in the in those provision only which actually takes away many rights or a person in a civil...
Whether pension received by an Indian resident under National Health Service Scheme of United Kindgdom is Taxable in India is the question this post is attempting to answer. The taxation of pension by a country to resident of another country is dependent on the entity which gives pension. Thus as per Double Taxation Avoidance Agreement...
CBDT annual ritual to change the rules of filing of return has started with the new dictate that income return filing is mandatory for all persons if total income exceeds Rs 5 lakh . The change in Rule 12 of Income Tax Rules is through notification no. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013 .Not only that...
Deduction u/s 80E of the Income Tax Act is allowed to individuals who takes education loans for … [Read More...]
Disability deduction u/s. 80DD of the I.T Act for expenses on maintenance ,nursing or medical … [Read More...]
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