Suspicious Transaction Report or STR: 5 Things You Should Know !

Suspicious transaction reports are being generated by various banks, financial institutions and other small savings authorities and being fed to the server maintained by...

The Word in the I.T.Act Not Found in Common Dictionary !

The government desire that every citizen should follow the law. That is also a requirement for a law abiding country and society. However ,...
ombudsman

Apply to Ombudsman to Solve 17 Types of Tax Problems !

Ombudsman is a post created in the income tax department for one purpose and only one purpose -helping tax payers.The ombudsman is retired chief...
senior_citizen

Senior Citizens Get 7 Exclusive Beneifts Under Tax Laws !

Income Tax Act provides distinct advantages to senior citizens. Who is a senior citizen is not defined under Income Tax Act. So a senior...

Legal Heir : How To Comply With Tax Laws in Case of Income of...

It is universal truth that a man/woman , whether earn or not , whether poor or wealthy , shall die one day . That...
affix reveune stamp

Why We Affix Revenue Stamps on Cash Receipts /Payments ?

Have you ever thought for a moment why we affix the revenue stamp while making payments in cash of Rs 5000 (five thousand) or...

Survey u/s 133A :7 Actions Tax Official Can’t Take ?

Survey u/s 133A of the Income Tax Act is one of the most common harsh action taken by assessing officers against tax payers ,...

Supreme Court : State Gets Priority on Debt Over Banks & Other Lenders

A three judge bench of hon’ble Supreme Court in Central Bank of India Vs State of Kerala & Ors , a two-Judge Bench recognized...
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Can unabsorbed depreciation be adjusted with salary income?

There is school of thought which think that unabsorbed depreciation can be allowed to be adjusted with salary income. This post analyse the legality...
mauritius regsitered companies

Why Mauritius Registered Companies & FII Don’t Pay Tax on Capital gains !

Income Tax Act 1995 governs the taxation of resident Mauritian companies. Under the law prevailing in Mauritius , taxable income includes rents, dividends, royalties and interest; however, dividends paid by 'tax incentive' companies, companies listed on the stock exchange, and companies which pay the full tax rate are exempt from tax in the hands of the receiving shareholder, whether resident or not.Most importantly ,there is no tax on capital gains arising on investments in shares

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