Form ITR-7 Notified For Asst Yr 2012-13

The trust ,political parties ,research association, institutions, section 25 Companies were facing difficulties as no return form for ITR-7 was notified for assessment year 2012-13. Download the new form INCOME-TAX (EIGHTH AMENDMENT) RULES, 2012 – SUBSTITUTION OF FORM ITR-7 NOTIFICATION NO. 29/2012 [F.NO. 142/31/2011-TPL]/SO 1705(E), DATED 26-7-2012 In exercise of the powers conferred by section 295 of the Income-tax Act, …

DTAA Between India and Korea

KOREA Agreement for avoidance of double taxation of income and the prevention of fiscal evasion with Korea Whereas the annexed Convention between the Government of the Republic of India and the Government of the Republic of Korea for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income has been ratified and the …

Exemption u/s 54 or 54F for Buying Property Aboard.

Exemption u/s 54 from long term gains on sale of any kind of asset is allowed  under section 54 or 54F if the sale proceeds are used for investment in new residential house. There are certain other conditions which are also required to be fulfilled.However, one conditions which is totally missing in either section 54 of section 54 is the …

Tax Relief on Unlisted Shares , Debentures & Bonds !

Non Resident investor enjoy ! The Finance Act 2012 has brought a great tax relief  for all non resident investors  who have private limited company or closely held public company shares or have invested in debentures or bonds . This is because any sale of unlisted shares,bonds or debentures or marketable securities, after 01/04/2012 will have lesser tax liabilities thanks …