Tuesday, September 17, 2019

Deemed cost of acquisition calculator

A calculator for computation of cost of acquisition of long term equity shares being acquired on or before 31-01-2018
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
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

Extension of Audit Report & ITR to 31st Oct

Due date extended to 31st Oct

Highlights of Budget Proposal

Today, Hon'ble Finance Minister presented the interim budget. The highlights of the proposal in the context of direct tax are discussed

FAQ on Long Term Capital Gain

Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt from income-tax u/s 10(38). However, transactions in such long-term capital assets are liable to STT
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:
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

Standard Deduction of ₹ 40,000: Actual Benefit or Eye Wash?

In the Budget Speech, Hon'ble Finance Minster has shown his sympathy towards salaried individual and proposed the standard deduction of Rs. 40,000/- Please check the actual benefit of this proposal before joy