private_trust

Private Trust :7 Tax Planning Tips You Can Actually Use !

Since every indivdiual is provided a basic exemption limit ,the central point of tax planning is to have more tax entities. Each entity gets basic exemption from tax which in aggregate exempts quite a substantial amount of income from tax. When you create a private trust,what you are doing is creating a separate tax entities. You should read first how …

Section 73: Nature of Activity Important For Deciding Principal Busienss !

The assessee-company , engaged in the business of financing by way of granting loans and advances and earning interest therefrom and also dealing in stock and shares , filed a return declaring a total loss after adjusting the business income of interest from loans and advances. In view of the provisions of Explanation to section 73, the Assessing Officer held …