Taxability of Dividend Income Received for Domestic and Foreign Company

Investing in share and mutual funds are new way of investing as these instruments provide higher rate of return in less time, however it involves high degree of risk but due to high benefit it is attracting various investors.In these transactions there are two ways of earning pro[...]

Taxability on Redemption of Mutual Funds and Shares

An investor in mutual funds usually makes profit by way of capital appreciation and dividend receipts on the capital invested. A capital gain is the difference between the sale value of investments and the initial purchase price.Holding Period for Mutual Funds:Taxability of Mutua[...]

Exemption under Section 54F of Income Tax Act on Sale of Any Long-Term Capital Asset Except Residential House

Who can Claim:This section is only applicable for Individual assessee Conditions to claim Exemption: a) Assessee should Purchase or construct a Residential house. b) The time limits for purchase or construction of Residential house: i) In case of Purchase:ii) [...]

Analysis of recent amendment in Section 54

Section 54 is applicable when an individual/HUF sells a residential property and buys another residential property, then he will be eligible for claiming Exemption u/s Section 54.ApplicabilityIf the newly purchased or constructed house is sold before 3 years from the date of capi[...]

Double Taxation Avoidance Agreement

A DTAA is a TAX treaty signed between two or more countries.Treaty- A tax treaty is a bilateral agreement made by two countries to resolve issues involving double taxation on income. Agreement generally determine the amount of tax that a country can apply to a taxpayer's income, [...]

Section 80EE – Deduction on Interest on Home Loan

Deduction under section 80EE can be claimed by first-time home buyers for the amount they pay as interest on home loan. Taxpayer can claim a deduction of up to Rs. 50,000 per FY as per Section 80EE.This deduction can be claimed over and above the deduction of Section 24 which is [...]

DIR-3 KYC and its compliance on Ministry of Corporate Affairs with clarification:

"Director Identification Number" (DIN) means an identification number allotted by the Central Government to any individual, intending to be appointed as director or to any existing director of a company, for the purpose of his identification as a director of a company:Provided fu[...]

Export Promotion Schemes

Exports From India SchemesIn order to encourage exports in India the Government provides certain benefits to exports to offset infrastructural inefficiencies and associated costs. These benefits are provided to both service providers and export of goods.There are two schemes to a[...]

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