What is Advance Tax and how to calculate and pay Advance Tax? What is Advance Tax? Advance Tax is part payment of your tax liability before the end of the financial year. It is also called pay as you earn scheme where the income tax should be paid in the year in which the income […]
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.
Sec 68: No addition where parties have sufficient bank balance while giving loans Citation of the Case: ITO vs. Rekha Bansal (ITAT Delhi), I.T.A.No.4455/Del/2013 & C.O. No. 43 / Del/ 2014, AY 2009-10, Date of Judgment: 14/08/2015
Interest subsidy for repayment of loan acquired for acquisition of capital assets, is capital receipts Citation of the Case: DCIT vs. M/s J.K. Cement Ltd. (ITAT Lucknow), ITA No.499/LKW/2010, ITA No.247 / LKW/2011, ITA No.180/LKW/2012, ITA No.570/LKW/2012 & ITA No.668/LKW/2014, AY 2007-08 to 2011-12, Date of Judgment: 30/10/2015
Possible Tax Benefits of Health Insurance The increased incidence of lifestyle-related diseases and the spiraling costs of healthcare has made it necessary for people to get health insurance coverage. You can get yourself and your family, which includes your spouse, children, parents, and other dependents, covered under health insurance. If you or members of your […]
Black Money Act Applicable from 1st April 2016 The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 deals with the problem of black money i.e. undisclosed foreign income & assets, procedure for dealing with such income and assets and to provide for imposition of tax on any undisclosed foreign income […]