Thursday, June 20, 2019
Retirement Benefits

Retirement Benefits – Know tax computation thereof

Exemption is available on various retirement benefits like gratuity, leave salary encashment and pension. Understand the way of determine taxable part thereof

Permanent Account Number (PAN)

Permanent Account Number (PAN) is an alpha-numeric (ten characters) code given in form of a laminated card to a person by income tax department for the purpose of identification of the assessee. A person can have only one PAN.

Cut your tax bill through deductions

Check this short list which will cut your tax bill and will also give peace of mind to you
Arun Jaitley

Highlights of Tax Proposal in Budget 2017

Today, Hon'ble Finance Minister Shri Arun Jaitley presents the Budget 2017. The highlights of tax proposal are
MAT on Ind AS compliant Financial Statement

MAT on Ind AS compliant Financial Statement – Overview

Section 115JB has been amended so as to provide the framework for computation of book profit for Ind AS compliant companies in the year of adoption and thereafter. The main features of this framework are as under:
Section 79

Section 79: Impact of Change in Shareholding on Carry Forward of Loss

In case of a closely held company, no loss shall be carried forward and set off against the income of the previous year, unless certain % of voting power are beneficially held by the same person(s), however, there are certain exceptions
Tax on Buy Back

Tax on Buy Back of Shares by Unlisted Company: Sec 115QA

Unlisted Companies are resorting to buy back of shares instead of payment of dividends in order to avoid payment of tax by way of DDT particularly where the capital gains to the shareholders are taxable at a lower rate
Bull of Stock Exchange

Is it the beginning of the end of the glorious story of bull?

In order to minimize economic distortions and curb erosion of tax base, it is proposed to withdraw the exemption u/s 10(38) and to introduce a new sec. 112A to provide tax @ 10% on long term capital gains
Cash and Bank

How to respond to income-tax mail on Cash transaction during Demonetisation

ITD has started sending email or SMS for cash deposit during demonetization. If you are the one who receive it, please don't panic. Instead, response it with this guide