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Deductions under income tax is provided under Chapter VIA .The tax reliefs provided to tax payers are given in section 80C to 80 U. Students of CA , ICWAI or CS and ven tax payers should have good knowledge about the provision of tax deduction because these provisions save money. So let us see ,...
Amalgamation or merger is an important tool of restructuring business. Under Income Tax Act , there are specific provisions to deals with various situation arising out of mergers . These may be related to carry forward of losses, depreciation, capital gains on transfer of asset by amalgamating company etc.Here is a set of 10 quizzes on taxation aspect of amalgamation ,...
This is a quick test for checking the preparation of tax papers related to CA, CWA or CS exams .The topic this time is “Income from Other Sources” which is an easier topic within tax chapters. However, I am sure , readers will get quite a surprise when they take this test to check how much they...
Capital gains provision under Income Tax Act starts from section 45 and has various laws to deal with numerous situation in which capital gains can arise and taxed accordingly. Students who prepare for various exams like CA , CS , ICWAI or MBA (Finance) or CFA require through knowledge of capital gains provisions and therefore...
Income from Business or Profession is one very important and very vast topic under Income Tax Act. Section 28 of Income Tax Act deals with the various kinds of income which is terated as incomes chargeable under to tax as profits and gains from business or prefession. Those who are practicing taxation or students of profession exams like...
Form 15G or 15H are declaration for individual residents and HUF that they have neither taxable … [Read More...]
The proposal of Cyprus government to impose a 7.5% tax on all money kept in fixed deposits in the … [Read More...]
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Quiz for CA/ICMA/CS Students