1. S. 73 of the Income-tax Act provides that any loss computed in respect of speculation business carried on by an assessee will not be set off except against the profits and gains, if any, of another speculation business. Further, where any loss com
Background:- Section 80-IB (10) of the Act is aimed at promoting construction of housing projects, so as to address the problem of shortage of dwelling units. The predominant objective of this incentive provision, therefore, is to encourage better av
Arjuna (Fictional Character): Krishna, What is Will?Krishna (Fictional Character): Arjuna, Today separated families are increasing. In this era all are running behind money. Therefore wherever there is wealth, problem arises. The life o
WHAT IS AN HUF? The term Hindu Undivided Family is not defined in the Income Tax Act. It is defined under the Hindu Law as a family that consists of all persons lineally descended from a common ancestor,
Sec 87A- A small Rebate of income-tax to Resident Individuals.In Budget 2013 Finance Minister Mr. P. Chidambaram choose a middle way to give benefit to small tax payers and save a big amount of tax for tax revenue by neglected bigger slab tax payers
SERVICE PE- Critical Observations on Judgement in Centrica India Offshore (P) Ltd. Facts:- Centrica Plc, a company incorporated in UK, along with foreign subsidiaries in Canada, collectively referred to as Overseas Entities were engaged
Arjuna (Fictional Character): Krishna, What is mean by HUF Hindu Undivided Family under Income Tax Act?Krishna (Fictional Character): Arjuna, Generally in India mother, father, son and
Before starting with anything we shall have the Overview of LLP its Enactment, features, Constitution etc.Background of LLP:LLP as a structure is not new in the International Scena
Unexplained Cash Credits, Investments, Money etc.Compiled by CA Nishant Jain Section 68: Cash Credits Where any sum is found credited in the books of an assessee, maintained for any previous year and the assessee offers no explanation about the natur
Section 10(5) of the Income Tax Act, 1961 (along with Rule 2B of the Income Tax Rules) governs calculation of tax exemption on LTA. Each year organizations face significant difficulty while calculating tax exemption on LTA when they carry out the yea
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