What should be includes in your income tax returns ? Due Dates for for Non audit assesses income tax return is 31st July approaching fast. While filing the income tax return salaried people only provide copy of the form No. 16 to the person preparing his income tax returns without any further details. This is […]
Applicability of wealth tax from assessment year 2016-17 As per my understanding, wealth tax is not payable from assessment year 2016 in view of amendment brought vide THE FINANCE ACT, 2015 w.e.f. 1st day of April, 2016. After amendment, the applicable charging provision ( from AY 1993-94 to 2015-16), that is sub-section (2) of section […]
Related Party Transactions – Section 188 – Companies Act 2013 Who is Related Party? Section 2(76) of Companies Act, Related party with reference to Company means:
Income Declaration Scheme: Government assures complete confidentiality Income Declaration Scheme not be extended beyond September 30 ,2016 : Revenue Secretary The Government has assured complete confidentiality to those declaring their income under the Income Declaration Scheme 2016. Addressing a press conference in Mumbai today, the Revenue Secretary, Government of India Shri Hasmukh Adhia said “no […]
Section 115-UB Tax on income of investment fund and its unit holders Introduction & Its Applicability: Section 115-UB of Income Tax Act, 1961 shall be inserted by the Finance Act, 2015, and is applicable w.e.f. 01-04-2016.