Simplifying Tax for C.A's and Taxpayers

Interest on loan taken for higher education eligible for deduction under Income tax act, 1961

Interest on loan taken for higher education eligible for deduction under Income tax act, 1961

Section 80E of the Income tax act, 1961 provides for deduction from gross total income of the assessee for the amount of interest paid on loan taken for higher education, commonly referred to as deduction in respect of education loan

If an assessee being an individual has taken a loan for the purpose of pursuing his own higher education or for the purpose of higher education of his relative, than in computing the total income of the assessee deduction in respect of such interest paid out of his income chargeable to tax be allowed under the section 80E of the Income tax act, 1961.

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Continuous Discharge Certificate for member of crew of ship

Continuous Discharge Certificate for member of crew of ship

Continuous Discharge Certificate for member of crew of ship – New rule inserted in income tax rules for the purpose of determining  period of stay in India for residential status of an individual being a citizen of India and a member of the crew of a ship.

For the purpose of determining the period or period of stay in India pursuant to   explanation 2 inserted by Finance Act, 2015 to sub section (1) to Section 6 in the case of an individual, being a citizen of India and a member of the crew of a foreign bound ship leaving India, rule 126 has been inserted with retrospective effect from 01.04.2015

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Provident funds Taxability including withdrawal of balance of provident fund

Provident funds Taxability including withdrawal of balance of provident fund

Provident funds taxability including withdrawal of balance of provident fund from employees provident fund scheme- tax implications

TDS on Employees provident fund -Section 192A inserted with effect from 01.06.2015

Is it possible to avoid TDS (tax deduction at source) by submitting form no.15G/15H u/s 197A in respect of pre mature withdrawal?

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Income Tax Slab & Rates & Marginal Relief & MAT for A.Y.2015-2016

Income Tax Slab & Rates & Marginal Relief & MAT for A.Y.2015-2016

Income tax slab & rates & Marginal relief & MAT for A.Y.2015-2016 (P.Y.2014-2015) for different   taxpayers.

For Individuals, Senior citizens, Super Senior Citizen Hindu Undivided families (Huf) AOP’s, (Association of persons), BOI’s (Body of individuals), artificial judicial person, partnership firms, Limited Liability partnership (LLP’s), Companies, Local authority, Co-operative society

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Income Tax Slab & Rates & Marginal Relief & MAT for A.Y.2016-2017

Income Tax Slab & Rates & Marginal Relief & MAT for A.Y.2016-2017

Income tax slab & rates & Marginal relief & MAT for A.Y.2016-2017 (P.Y.2015-2016) for different taxpayers.

For Individuals, Senior citizens, Super Senior Citizen Hindu Undivided families (HUF) AOP’s, (Association of persons), BOI’s (Body of individuals), artificial judicial person, partnership firms, Limited Liability partnership (LLP’s), Companies, Local authority, Co-operative society.

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Capital Gain Tax on Shares

Capital Gain Tax on Shares

Have you rightly calculated your capital gain on shares and understand the cumulative impact of section 10,111A and 112 of income tax act,1961.

Clarifying the most asked question about taxation impact on the sale of shares and indexation option available in shares.

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