Income Tax Articles

Interest: A Comparative Analysis

Posted by Souvik Kumar Ghosh 06 March 2013 13093 Views

Law under Service Tax: Services are being taxed under the Negative List approach w.e.f. 01.07.2012. The Negative List, incorporated under Sec-66D of the Finance Act, contains a list of services which are not liable for service tax. Services by wa

Judgments Overruled by Finance Bill 2013

Posted by Rupesh Srivastava 05 March 2013 15910 Views

Finance Bill 2013 may overrule Following Court decision. 1. Proposed Amendment in Application of seized assets under section 132B The existing provisions contained in section 132B of the Income-tax Act, inter alia, provide that seized assets may be

Basic Exemption/Rebate under Income Tax - Budget 2013 FAQ's

Posted by Manoj Agarwal 03 March 2013 146997 Views

Income Tax Credit/REBATE of Rs. 2,000 - Detailed Analysis / FAQs Frequently Asked Questions (FAQs) Q1. Whether basic exemption limit for Individuals, HUFs, AOP & BOI under the Income Tax Act, 1961 has been raised

FAQ - Deduction for Interest on education Loan

Posted by @VaibhavJ 03 March 2013 15799 Views

Q. Who is eligible for deduction us/ 80E? A. Education loan should be taken by Individual (not to HUF or other type of Assessee ) Q. Is loan taken in name of any family member is eligible fo

Budget 2013 Direct Taxes Highlights

Posted by CA. VIKAS RAI 03 March 2013 23364 Views

PROVISIONS RELATING TO DIRECT TAXES- 1. No Change in slab rates & Super Rich Tax postponed - There no change in slabs, but the Individual & HUF whose income is upto 5 Lacs get a Tax credit of Rs.2,000/-. Effectively slab is increased for t

Direct Tax Budget - Highlights

Posted by Member (Account Deleted) 02 March 2013 15994 Views

Direct Tax Highlights 1. Tax Rate Comparison A) Individual, Hindu undivided family, association of persons, body of individuals, artificial juridical person No change in the rates of income tax applicable to individual, Hin

Sec 80EE - Should you rush to buy a house?

Posted by CA Suraj Lakhotia 02 March 2013 21202 Views

Increasing savings and their optimal allocation for productive uses lead to higher economic growth. The household sector must be incentivised to save in financial instruments rather than buy gold. Excerpt from Budget Speech

Budget 2013 Direct Tax Perspective

Posted by Pavan Jain S 28 February 2013 12295 Views

Highlights of Union Budget 2013 Direct Tax perspective: Section /Schedule Head Amendment/New Provision Effective date Part III to Schedule I Advance taxe

Understanding Taxation of Trust - Part- II

Posted by Manish Kumar Agarwal 27 February 2013 16088 Views

We had earlier discuss in detail about the concepts of Taxation of Trust along with various case laws earlier in part I. In case you want to refer, the part I, please click on the link below: http://taxbymanish.blogspot.in/2012/02/unde

Taxability for concession in school fees or scholarship

Posted by Deepak Agrawal 22 February 2013 42574 Views

NOTE ON PERQUISITE TAXABILITY FOR CONCESSION IN SCHOOL FEES OR SCHOLARSHIP GIVEN BY THE EMPLOYER TO THE CHILD OF EMPLOYEE: 1. Taxability of Perquisites: As per section 17(2) (iv), Perquisite includes, any sum paid by the employer i