Simplifying Tax for C.A's and Taxpayers

Do declare your interest Income yourself

Do declare your interest Income yourself
  • “I do not want to declare interest as it will add to my tax liability.”
  • “ I believed that interest on saving bank account is tax free “
  • “My bank has not deducted TDS on this interest. I am not supposed to report this part of interest”

Wondering which category you belong to? Read More

Amendments in Sukanya Samriddhi Yojna

Amendments in Sukanya Samriddhi Yojna

Sukanya Samriddhi Account Yojana was launched By Prime Minister Narendra Modi on January 22, 2015 as a part of the Beti Bachao, Beti Padhao campaign. The purpose is to encourage parents to generate an investment pool for the future education and marriage expenses for their girl child. The scheme received a good acceptance in wake of the financial security and independence it would provide to the girl child as well as their parents and guardians. Read More

Deduction in Respect of Health Insurance Premia & Medical Expenditure

Deduction in Respect of Health Insurance Premia & Medical Expenditure

Deduction in respect of health insurance premia & medical expenditure under section 80D of the Income tax act, 1961

Provisions applicable for A.Y.2015-2016 and A.Y.2016-2017 for deduction from total income in respect of payment for medical insurance premia and preventive health checkup and medical expenditure under section 80D of the Income tax act, 1961

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TDS on payment for immovable properties-Section 194-IA of the Income Tax act, 1961

TDS on payment for immovable properties-Section 194-IA of the Income Tax act, 1961

How much TDS to be deducted, procedure for depositing the same, whether applicable on all immovable properties, which form to be filed for furnishing the details, time limit etc.?

Finance Bill of 2013 w.e.f 01.06.2013 made applicability of TDS (tax deducted at source) on sale of immovable property wherein the purchaser of the property has been casted duty for deducting TDS from the amount to be paid to the seller as consideration for purchase of property and deposit the same to the income tax department.

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Corporate Social Responsibility – Act, rules, circulars, notification, activities

Corporate Social Responsibility – Act, rules, circulars, notification, activities

Philanthropy in India is a phenomena as old as India itself. Corporates have  responsibility to the society  also in which it works. Indian corporates even before the introduction of  concept of corporate social responsibility into Companies Act, 2013 were in various ways involved directly or indirectly in various charitable and philanthropic activities integrating economic and social development for the benefit of human mankind at large.

Corporate Social Responsibility is a much wider concept than philanthropy and charity. Now Section 135 of Companies Act, 2013 provides for corporate social responsibility which runs as under:

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