Introduction: 1. Income-tax Act, 1961: Introduction to Easy Income-tax Act of 1961 2.Annual Finance Acts: 3.Income-tax Rules, 1962: 4.Notifications and Circulars: 5.Judicial Decisions: The Charge of Income Tax: Exploring Section 4 Introduction: Section 4: Charge of Income-tax Scope of Charge: Section 4 establishes the scope of charge by declaring that income tax shall be charged … Read more
Taxation on sale of Share as business Income 2024 This type of transaction can be taxed as normal business income or capital gain. If you are holding shares in your trading Portfolio, the income or loss on account of sale, purchase of these shares is considered as business income. Even trading in futures and options is … Read more
Taxation of Income Earned From Selling Shares All of us recognize that earnings from salary, rental profits and business income is taxable. However what approximately income from the sale or purchase of shares? Many homemakers and retired humans spend their time gainfully buying and promoting shares but are uncertain how this profits is taxed. Income/loss … Read more
claim an Income Tax deduction for Home Loan A standard deduction rate of 30% is applicable to the Net Annual Value (NAV) of a property for taxation purposes. This deduction is advantageous as it is allowed regardless of whether the actual expenditure on the property is higher or lower. The standard deduction covers various average … Read more
Agricultural Income Taxable The Taxation of Agricultural Income is a topic of confusion and misconception among many Taxpayers. While some believe that all income, including agricultural income, is taxable, others are under the impression that agricultural income is entirely tax-free. In this blog post, we’ll delve into the nuances of agricultural income taxation, dispelling myths … Read more
