Daughters right in ancestral property The first question after the Supreme Court recent ruling in Prakash & Ors v. Phulavati & Ors, rendered on 16 October 2015 comes to everyone’s mind is whether the Supreme Court is right in giving the ruling or not, but what matters now is not whether the Supreme Court is […]
Tag Archives: Income Tax updates
Presumptive Taxation of Business: Analysis of Amendments Section 44AD widely affects the businesses in small sector. It was brought in its present shape by Finance Act 2009 wef AY 2011-12. It implies that legislature at that time thought it fit to take a year extra to have impact study of the section. However section 44AD […]
Section 44ADA a Provision to tax more than Actual Income The professionals have been brought under the ambit of Presumptive Taxation for the first time in history of Indian Taxation by virtue of Section 44ADA proposed in the Union Budget 2016. It would be a welcome step provided that the proposed Net Profit (NP) rate […]
Smart Tax Saving Options Friends who were least bothered about tax saving investments throughout the year, have started hunting down options to park their surplus funds and consequently save up on taxes. Being the Good Samaritan, I chalked out some of the most advisable alternatives available under section 80C to save tax. These options help […]
Promotion of Payments through cards and digital means The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of steps for promotion of payments through cards and digital means. The move aims at reducing cash transactions. Several short term (to be implemented within one year) and medium term […]