Posts Tagged: Business Income

The taxation of  subsidies depends upon the nature and circumstances under which the subsidy is given by governments from public accounts money. This is one issue where no fixed rule is possible because the issue has to be settled first is -whether the tax on capital subsidy is imposable depends whether it is actually a…...

The law of claiming depreciation on asset of business is regulated through section 32 of the Income Tax Act . Further Income Tax Rule provides depreciation rate for various class of assets. Now as it happens with businesses, one needs to reorganize through various ways like amalgamation, or changing the structure of the business etc…....

The persons who are insurance agent or postal agents who receives commission for selling various kinds of investments and insurance products of  insurance companies and postal department. One reader Vasantha , Trichy  has asked  “I am a mutual fund broker, LIC agent & Postal agent. I am getting income by way of commission for my agentship. Please guide…...

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…....