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The rule of taxation of Zero Coupon Bond is similar to shares listed in stock exchange as far as capital gains is concerned , whereas if the Zero Coupon Bond is held as business asset, the difference in cost and redemption price is taxed as interest chargeable under business head. What is Zero Coupon Bond ? Zero Coupon Bond is a...
Gift receipt now is generally taxable under Income Tax Act.Section 56(2)(vii) provides that if any gift is received from any person other than relatives , such sum may be taxed. There are other conditions also , but for the sake of issue regarding the meaning of relative from whom gift receipt is tax free ,...
AUSTRIA Agreement for avoidance of double taxation and prevention of fiscal evasion with Austria Whereas the annexed Convention between the Government of the Republic of India and the Government of the Republic of Austria for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, shall enter into...
If you are having demand dispute due to wrong demand shown by Assessing officer or CPC or adjustment of refund with a demand which is not there as per record , read the letter of Member ,CBDT who has taken steps for mitigating the hardship for the wrongs done by assessing officer and the faulty system of the income...
Gift of assets to various persons -relative and non relatives involves different issues under Income tax Act which has many provisions to deal with gift of assets .When a person receives any capital asset as gift and later sells it, the question of capital gains arises. However, this posting will try to dwell on three important...
PAN and TAN applications require you to fill up the the jurisdiction in which the applicant is … [Read More...]
A video reports on tax planning by US based corporate to shift their office elsewhere in other … [Read More...]
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