Section 54 F : Exemption of Capital gains in cases of investment in residential house Exemption under Section 54F of the Income Tax Act, 1961, the long term capital gains earned by selling a capital […]
Exemption under section 54F and 54EC View Full Article »
Section 45 provides that any profits or gains arising from the transfer of a capitalasset effected in the previous year will be chargeable to income-tax under the head ‘Capital Gains’. Such capital gains will be
How to Calculate Capital Gains? View Full Article »
Capital gain tax on Sale of Residential Property : Section 54 of Income Tax Act gives relief to a taxpayer (Individual or HUF) who sells his residential property and from the sale proceeds he acquires
How to Save Capital Gain Tax on Sale of Residential Property? View Full Article »
As per Section 206C of the Income Tax Act, 1961 the seller collects tax from the buyer on behalf of the government at the time of the sale. This tax is applicable to only some of
In case an assessee, other than an assessee who declares profits and gains in accordance with the provisions of section 44AD(1) or section 44ADA(1), who is liable to pay advance tax under section 208 has
Section 234C – How to Calculate Interest payable for deferment of advance tax? View Full Article »
Introduction (1) Interest under section 234B is attracted for non-payment of advance tax or payment of advance tax of an amount less than 90% of assessed tax. (2) The interest liability would be 1% per
How to calculate Interest under Section 234B of Income Tax Act, 1961? View Full Article »
Tax shall be payable in advance during any financial year, in accordance with the provisions of sections 208 to 219, in respect of an assessee’s current income i.e. the total income of the assessee which would
Advance Tax : Practical Guide on Section 207 to Section 219 View Full Article »
Section 194IB requires any person, being individual or HUF, other than those individual or HUF whose total sales, gross receipts or turnover from the business or profession exceeds Rs. 1 crore in case of business
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