Budget 2016: Expectations from the Finance Minister Come the budget season and the Finance Minister becomes Santa Clause. Everyone expects him to bring in some goodies. I also expect this Santa Clause to correct some anomaly in the income tax law and hand some goodies to the “Aam Admi” Let us discuss my wish list. […]
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.
Why people should invest in ELSS in 2016 ELSS is one of the fancy products nowadays. More and more people are choosing ELSS and most of tax saver funds are getting overwhelming response. There are certain factors who have make it the best product among the all tax saving products
Budget 2016 – Government subsidies must be specifically excluded from income. General discussion: Basically subsidies are given to provide a support a socio –economic cause and public welfare. Subsidies which provide long-term benefits improves infrastructure. For example, education subsidies to educational institutions and students improve education, knowledge and as a result ‘improved human resources in […]
Know your tax saving limit – The complete guide WHAT ON EARTH IS TAXES? With layman’s direct tax is usually a compulsory contribution that all one who brings in an income as well as comes in the taxpaying area has got to pay on the authorities since authorities has got to launch a lot of […]
Tax Treatment of Sale of a capital asset converted into stock-in-trade In business there are occasions when a capital asset is converted into stock-in-trade and stock-in-trade is converted into capital asset. There may also be occasions when an asset ceases to be a stock-in-trade. In this context, section 45(2) of the Income-Tax Act, 1961 (the […]