Understanding what is date of incorporation is key when starting a company. This date marks when a company legally begins. It impacts financial reports, taxes, and following rules. In India, the Ministry of Corporate Affairs (MCA) makes registering companies online easier. Knowing the importance of this date is vital. It affects taxes and what shareholders […]
We’re here to introduce Section 35AD of the Income Tax Act. It offers tax deductions for specific businesses in India. The act allows a 100% deduction of capital expenditure under Section 35AD. This aims to boost investment in sectors like infrastructure development. This section is key for businesses. It lets them claim tax deductions, which
Speculative income is based on future events and carries a lot of risk. It’s a high-stakes investment in financial markets. In India, you can make money from stocks, commodities, and currencies. But, it’s key to know the risks and how to invest wisely to make the most money. In India, investors can try different speculative
We will explore Section 112a, covering its basics, how to calculate long-term capital gains, and tax rates. This section of the Income Tax Act deals with taxes on long-term capital gains from selling certain assets. These include listed equity shares, equity-oriented mutual funds, and units of business trusts. If you make more than Rs. 1
We will explore the concept of clubbing of income, a key part of Indian income tax law. Clubbing of income means adding someone else’s income to your own tax return. This is important to know because it can change how much tax you pay. The Indian income tax law has rules for clubbing income. It’s
The GST composition scheme is a simple tax plan for small businesses in India. It lets them pay a fixed percentage of their sales as tax. This makes tax easier and less complicated for small businesses. Most states have a limit of Rs. 1.5 crore for this scheme. North-Eastern states and Himachal Pradesh have a
We will explore exempted income in India, which includes income that is not taxed under the Income Tax Act. Our guide aims to help taxpayers save on taxes by using these exemptions. Exempt income is not taxed in certain situations. We will look at exemptions like the gift tax threshold and the estate tax threshold.
We will give you a quick overview of how to calculate tax on house property income. It’s important to know the tax rules for owning a house in India. The Indian Income Tax Act, 1961, says income from house property is taxed. This includes rental income, which is taxed under this head. Key Takeaways Income
The Income Tax Act has many exemptions to help lower taxes. Section 10 is key, covering income from farming, jobs, and investments. Knowing these exemptions helps save money and reduce taxes. Section 10 of the Income Tax Act helps by not taxing certain incomes. This includes farming income and interest for non-resident Indians. It aims