Don't Worry , Be Happy !
Rule 8D is invoked by assessing officer for computing disallowance u/s Section 14A of the Income Tax Act even in case shares are held as Stock-in-Trade.Thus , the agony of the taxpayers who deals in shares only and does not involves in investment aggravates , because in most of cases the dividend received are far...
Delhi Income Tax Tribunal Alka Agarwal vs ADIT has recently dwell on the issue whether long term capital gains exemption as provided u/s 10(38) can be claimed in case of a share which was previously held as investment , but converted to stock in trade and when sold after holding them for more than a...
Long term is tax free if sold through recognized stock exchange. Short term is taxed at lower rates of 15% . Stock-in-trade is taxed at higher rates than capital gains. Therefore, many tax payers are resorting to capital gains rather business income. Many convert their holding as stock in trade as capital asset and then [...]
Once upon a time , the relief bonds issued by Reserve Bank of India used to be tax free with quite handsome amount of interest . So , overall that was quite hassle free ( on account of tax exempt status) investments. But , now the bonds are not only taxable but also subject to...
The season of tax has arrived. Therefore , there is need for easy chart of all tax deduction u/s 80c to 80U for an Individual taxpayer?Under Income tax , deduction u/s 80C,80CCC, 80D, 80DD,80DDB,80G , 80GG, 80GGA, 80GGC , 80IAB , 80IB , 80IC , 80ID ,80IE , 80JJA , 80QQB ,80RRB , 80U are...
Deduction u/s 80D of the Income Tax Act provides relief to tax payer by allowing a deduction in … [Read More...]
The proposal of Cyprus government to impose a 7.5% tax on all money kept in fixed deposits in the … [Read More...]
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