Deductions are typically expenses that the taxpayer incurs during the year that can be applied against or subtracted from their gross income to figure out how much tax is owed.
People like Bill Gates, Al Gore, and Richard Branson believe that this is where the future rests, while scholars like Warren Buffet, Paul Krugman, and Richard Schiller see it as a Ponzi scheme.
Income from salary is the remuneration that is received by an individual who is rendering services under any contract which is taken by him. The contract should be under employment.
An investor can claim deduction up to Rs. 1,50,000/- u/s 80C for investments made in SIP. However, deduction is available only if the SIP is of an Equity Linked Savings Scheme Mutual Fund.
Rebate under section 87A of the Income Tax Act is a provision that helps taxpayers to reduce their tax liability. This section is available to people whose income do not exceed Rs. 5 Lakhs.
With the development of Alternative Disputes Resolution, certain dispute resolution techniques have evolved that result in a much simpler, faster and peaceful solution, than the court remedy.
It has been seen that most of the startups, MSMEs, and entrepreneurs are either unaware of available schemes or reluctant to avail its benefits due to a cumbersome application/approval process.
A listed company, that proposes to issue shares on a preferential basis, may do so, by offering shares to select individuals at a price that is higher than the floor price.
Discussing tax treatment of cash credit, unexplained investments, unexplained money, amount of investments not fully disclosed in books of accounts, unexplained expenditure and amount borrowed on hundi in cash.
As per section 110 of the Companies (Management and Administration) Rules, 2014 unlisted public companies having more than 200 shareholders shall pass the special resolution through postal ballot only.
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