income tax
Income Tax
Section 194T: Scope and Application of Section 194T
Presently there is no provision for deduction of tax at source (TDS) on payment of salary, remuneration, interest, bonus, or commission to partners by the partnership firm. In ACIT v. Dhar Construction Company 146 taxmann.com 81 (Gauhati...
Income Tax
SECTION 47: CERTAIN TRANSACTION NOT REGARDED AS TRANSFER (EXEMPT TRANSFER)
What is section 47 of Income Tax Act?
Section 47 of the Income Tax Act, 1961 (India) specifies transactions that are not regarded as transfers for the purposes of capital gains tax. Under normal circumstances,...
Income Tax
Income tax notices and how to reply to them
What is an Income Tax Notice?
Income tax notices are official communications from the Income Tax Department to a taxpayer, highlighting issues or actions related to their tax filings. Receiving such a notice doesn't always...
Income Tax
Tax Harvesting: Mastering the Art of Tax Savings
Tax harvesting is a strategic way to save on taxes by selling investments to either book gains or losses. The idea is to reduce your overall tax burden by carefully timing these transactions. You...
General
DTAA – Double Tax Avoidance Agreement: Insights
In today's interconnected global economy, entrepreneurs are increasingly expanding their businesses across international borders. However, along with the opportunities come challenges, one of which is navigating the complex realm of taxation. Double taxation, wherein...
General
Inheritance Tax: A solution to ensure equality or risk to hard earned savings?
Inheritance Tax, often dubbed as the "Death Tax," is a levy imposed on the transfer of assets from a deceased individual to their heirs or beneficiaries. The Inheritance Tax serves two main purposes. First,...
Startups
How to Create a Successful Partnership Agreement for Your Startup
Starting a prosperous business is rarely a solo endeavour - most flourishing startups are built on strong partnerships. Whether you're joining forces with a co-founder, bringing on an investor, or forming a strategic alliance,...
Income Tax
Taxpayer’s Delight: Clearing Small Demands, Easing Burdens!
On 1st February 2024, Finance Minister Nirmala Sitharaman announced during the interim budget the waiver of small outstanding demand under the Income Tax Act, 1961, Wealth Tax Act, 1957 or Gift Tax Act, 1958. The Income Tax department...
Recent posts
Want to publish your own blogs?
Write an Article
+91 97234 00220
support@counselvise.com