Monthly Archives: October 2014

Capital gain on conversion of capital Assets into stock-in-trade-Section 45(2) And Section 2(47)

Bai shrinbai k.Kooka(SC) There is no transfer involved when an assesses converts a capital assets into stock in trade of the business carried on by him. The act of conversion is similar to taking out the money from on pocket and keeping the same in the other pocket of the same person. The above judgment […]

Latest amendments to Life insurance policies eligible for deduction U/s 80C.

Through life Insurance Policies individuals and HUF can save major tax .Lots of major changes have done in Section 194DA on payment of premiums which can be easily understand through below article.Amendments to section 80C – Tax Effect on Life Insurance Policies:-While claiming deduction U/s. 80C for Premium paid life insurance policies, exemption amount is […]

Provisions for Deciding factors of residential status and taxability

For determining the taxability of the income residential status must be seen first. because the taxability of income depends upon the residential status of person. Following is the situations when the taxability of income depends on the status of person First:- what is the residential status of the person as per the Income-tax Act 1961.and […]

Due Dates Regarding Income tax for the October 2014

10th October 2014 -​Due date for deposit of Tax deducted/collected during the month of September, 2014 10th October 2014 -​ Due date for deposit of TDS for the period July 2014 to September 2014 when Assessing Officer has permitted quarterly deposit of TDS. 15 October 2014 -​Quarterly statement of TDS/TCS deposited for the quarter ending […]

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.