Bank gives scheme under different types of deposit and account. In this article we will discuss about them in detail and we will also discuss the tax benefits you get under Income Tax Act.
In this article, we will discuss the incomes that are part of taxable income but many taxpayers don’t include these incomes in their income tax returns.
Any individual or HUF whose total income before deducting CH VI A deductions and Sec 54/54B/54D/54EC/54F/54G/54GA/54GB is more than the basic exemption limit
Under this scheme, the employer and employee both contribute 12% of the employee's salary and dearness allowance to the employee's provident fund account every month.
An individual may be a citizen of India but may end up being a non resident for that particular year. The residential status of different categories of taxpayers is assessed differently.
According to section 2(31) of the Income-tax Act, a 'person' includes - Individuals, Partnership Firms, HUF, Companies, AOP, Local authorities, or any other artificial judicial person.
Financing plays a major role in business. A business can flourish only when the finances are well managed. From Start-up to expansion of business and even to carry day to day business, funds are needed.
In India, a gift is exempted up to Rs. 50,000 and gifts from specific relatives such as parents, spouses and siblings are also exempted from tax. Gifts other than those received from specified relatives are taxable.
Capital gains are the amount of net profits(gains) that the investor makes from selling of any capital assets over the purchase price of that assets. The entir..
Tonnage taxation is a presumptive taxation scheme under which qualifying shipping companies operating qualifying ships are given this option.
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