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That filing declaration u/s 15G by person below 60 years of age is well known method of preventing TDS on interest income. The question whether Trust can file a declaration in Form 15G is very good question . The answer to the question is a definite yes. I hope readers have already watched a video...
Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose. 174A. Notwithstanding anything contained in section 4, where it appears to the Assessing Officer that any association of persons or a body of individuals or an artificial juridical person, formed or established or incorporated for [...]
Dissolution of trust brings a controversy about the capital gains .The provision of capital gains on transfer of asset on dissolution of firm or AOP or Body of Individuals are contained in Section 45(4) of the Income Tax Act . However, the trust is not mentioned in the said section. So, when dissolution of trust...
AOP or Association of Person is defined as a person under section 2(31)(v ) of the Income Tax Act . However, what is an Association of Person itself is not defined . Therefore, understanding the meaning of this taxable entity is very important , because in many cases for deciding whether a receipt is chargeable...
An Android phone tax calculator for CA,ICWA,MBA Finance ,Lawyers ,tax professionals & taxpayers has just been released.The application is absolutely free.Now computing tax for financial year 2011-12 & also FY 2010-11,interest u/s 234A,234B & 234C , HRA exemption, rent free accommodation perquisite,leave salary exemption, gratuity exemption, how much tds for Fy 2011-12 shall be a [...]
Disability deduction u/s. 80DD of the I.T Act for expenses on maintenance ,nursing or medical … [Read More...]
Deduction u/s 80E of the Income Tax Act is allowed to individuals who takes education loans for … [Read More...]
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