Don't Worry , Be Happy !
Mere payment of advance tax or tax deducted at source on any income can be argued as an evidence that a tax payer has disclosed the income , so held in a landmark judgment by Supreme Court in ACIT , Chennai vs A.R Enterprises [2013] 29 taxmann. com 50 (SC). The Apex Court decided in favour of income...
Retirement pension is salary under Income Tax Act and many citizen of India who have given services to foreign government do get pension . Maybe at that point of time they have returned to India and now question regarding the taxation of such receipt in India bothers. A reader Sri Brahmanadam Belinini has asked following question ...
This quick post is published as I received many queries by people who are non residents Indians regarding filing of return of income in India for assessment year 2012-13. They have asked whether there is any amendment brought in the Income Act by which non resident Indians are supposed to compulsorily file return of income. The good news is that yes,...
Having Non Resident status in India is good from taxation angle .The readers are already informed in previous post that the residential status of an Individual is determined as per his/her physical presence in India . If you are not aware or want to refresh the basics of how to know the residential status or when one acquires...
The tax residency of a person in India determines whether an amount received or accessed to him in a year is taxable under I.T. Act. This is so because section 5 of the Income Tax Act which defines Total Income excludes all income earned , accrued or arisen abroad in hand of a Non-Resident whereas...
Capital gains exemption u/s 54 provides relief to a tax payer who gets gains on account of sale of … [Read More...]
Form 15G or 15H are declaration for individual residents and HUF that they have neither taxable … [Read More...]
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