Income Tax Deduction on Education Loan under Section 80E
As per the provisions of Income Tax Act, an assessee is allowed certain deductions while computing total income. One of such deduction is, for the amount of interest repaid on education loan under...
View ArticleWhat is Long Term Capital Gain Tax on Sale of Shares
Capital Gain may be explained as profit made out of the sale of any capital asset where the sale price exceeds the purchase price of the capital asset or investment. In case the sale price of the...
View ArticlePenalty on Late Payment and Non Payment of TDS
Compliance with TDS provisions is one of the complex tasks for tax payers, accountants, CA and tax consultants. You have to take into consideration timely deduction of TDS and timely deposit of TDS...
View ArticleService Tax on Under Construction Property
Construction activity is included in declared service list. According to Clause (b) of sections 66E, Construction activity means construction of a complex, building, civil structure or part thereof,...
View ArticleSection 54 on Long term capital gain exemption
loCapital gain or loss is applicable on transfer of the capital asset. Land, building, plant, machinery, vehicles etc are included in the definition of capital asset. Not only business related assets...
View ArticleDue date for Payment of Service tax
Service tax is an indirect tax which is levied on taxable services provided by the service provider. With introduction of reverse charge mechanism, service receiver is also liable to pay service tax...
View ArticleTax on Agricultural Income In India
These days, there is a wide variety of sources of income. Some opt for self businesses that may be trading of some goods or manufacturing. Some who have specialised knowledge go for profession. And...
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Comparison of PPF with other Small Savings Instruments
We have dedicated a few blog on Public Provident Fund and have discussed various aspects of it. Here we are trying to compare it with other Small Savings Instruments as the debt space is filled with a...
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Changes in the ITR Form:
The tax saving season is over and now the tax filing season is on. The last date to file your Income Tax Returns is 31st July so it is important that you are well versed with the changes in the ITR...
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Income Tax Rules for Life Insurance Policies
Understanding Income tax rules is an important aspect of financial planning and so is buying the right kind of insurance policy. Insurance cover is important for all important assets whether life or...
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How to avoid TDS on interest on Fixed Deposits in India
Often at the end of the financial year when you go through you bank statement the description TDS on FD irks you. However by that time it is already too late for you to do anything so you have no...
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