Budget 2016 First time home buyer – Rs 50,000 deduction for upto Rs 35 lakh loan provided house cost not more than Rs 50 lakh Reduction of Rs 60,000 per annum for those who don’t own house and pay rent Penalty to be 50% of tax in income under-reporting cases, 200% in misreporting of facts
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
DTAA with Maldives to stop double taxation on International air transport income Agreement between India and Maldives for avoidance of double taxation of income from International air transport The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval forsigning of an Agreement between India and Maldives for the avoidance of […]
Software developer cannot be compared with service provider Transfer Pricing: Companies in software development services not comparable with those in development of software products and services Brief of the Case ITAT Bangalore held in the case of GXS India Technology Center Pvt. Ltd. vs. ITO that a company which is engaged in development of software […]
Female member can be Karta of HUF – Delhi HC Brief of the Case Delhi High Court held In the case of Mrs. Sujata Sharma vs. Shri Manu Gupta that post Hindu Succession (Amendment) Act, 2005 which amended the Hindu Succession Act, 1956, all rights which were available to a Hindu male are now also […]
Brokerage Not Deductible In Computing Income From House Property Case Law Citation:- Radiant Premises Pvt. Ltd vs. ACIT (ITAT Mumbai); ITA No.5494/Mum/2013; Date of Pronouncement 05.06.2015; Assessment Year: 2010-11 Brief of the Case:- The brokerage paid to the third party has nothing to do with the rental income paid by the tenant for enjoying the […]