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CBDT clarification has come on demands of Indian software industry demands that various tax provisions are creating unnecessary interpretation and thereby increasing litigation CBDT has now come with Circular No . 1/2013 [F. NO. 178/84/2012-ITA.I], DATED 17-1-2013 by which it has tried to answer seven questions rel;ated to exemption provision related to software industry. 7 Clarification on...
Venture Capital Fund or VCF is fund formed by various investors for certain basic purpose. VCFs are constituted as TRUST where the trust deed lays down exact contribution of each member in the corpus. The management of the fund is assigned to a separate entity called Asset Management Company. Who regulates Venture Capital Fund or Venture...
Exemption u/s 54 from long term gains on sale of any kind of asset is allowed under section 54 or 54F if the sale proceeds are used for investment in new residential house. There are certain other conditions which are also required to be fulfilled.However, one conditions which is totally missing in either section 54...
The exemption from capital gains on sale of any capital asset other than a residential house is provided u/s 54F of the Income Tax Act. In simple terms , although there are a few conditions attached to exemption u/s 54F, is that if a person gets capital gains on sale of any capital asset other...
The Income Tax Act provides exemption from tax on long term capital gains , under section 54 or 54F ,in case the capital gains ( in case of sec. 54) or net sale consideration ( in case of 54F) is utilized for buying a residential house either one year before the date of transfer of...
PAN and TAN applications require you to fill up the the jurisdiction in which the applicant is … [Read More...]
Deduction u/s 80D of the Income Tax Act provides relief to tax payer by allowing a deduction in … [Read More...]
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