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Capital Gains Account Scheme: Features & Tax Benefits 15 Aug 2013 | 07:39 pm
The profit that arises on the sale of any property is referred to as Capital Gains and is chargeable to tax. (Refer: Computation of Tax on Capital Gains) Govt also provides for various schemes for sa...
Locate your Income Tax Ward/ Circle/ Range/ AO Code online 14 Aug 2013 | 01:10 pm
The Jurisdiction of the Assessing Officer i.e. his Income Tax Ward/ Income Tax Circle/ Income Tax Range No/AO Code is required to be stated while filing the Income Tax Return. Furnishing these details...
Excise Duty on Cars in India 11 Aug 2013 | 05:52 pm
Excise Duty is levied at the time of manufacture of any product in India. Excise Duty on Cars is also levied at the time of manufacturing. The rate of excise duty on cars is decided by the Central Gov...
Form 60/ 61: Procedure for submitting this Form in place of PAN 7 Aug 2013 | 07:06 pm
At the time of entering into certain specified transactions, PAN Card No. is mandatorily required to be submitted. In case a person does not have a PAN Card No., he can submit a declaration in Form 60...
Computation of Tax on Fixed Deposit (FD) 2 Aug 2013 | 11:32 am
The interest that is earned on the Fixed Deposit is not tax free but is taxable. The tax on fixed deposit is levied as per the Income Tax Slabs of the person earning the interest. As the income tax sl...
Income Tax Form 13 for applying for Nil/Lower Deduction of TDS 1 Aug 2013 | 08:04 pm
As per the provisions of the Income Tax Act, TDS/TCS is required to be deducted at the time of making any payment. This TDS is deducted by the person making the payment and is required to be deposited...
What is Portuguese Civil Code mentioned in Income Tax Return? 28 Jul 2013 | 09:49 am
The Income Tax Return Forms from A/Y 2013-14 onwards have inserted a new column which asks – Are you governed by the Portuguese Civil Code? A screenshot of the same is shared hereunder What is Portugu...
Rounding off in Income Tax – Section 288A & 288B 20 Jul 2013 | 10:49 am
For the purpose of simplicity and to facilitate easy payment of taxes, the income tax act suggests rounding off of income and the income tax payable thereon. The Rounding off of income is governed by ...
Why you should never quit after failure in Exams 17 Jul 2013 | 01:37 pm
After the declaration of Result of every competitive exam, there are a few happy faces of candidates who’ve managed to clear the exams. Their hard work has been rewarded and they are all charged up fo...
What is Financial Year, Fiscal Year & Assessment Year in India 13 Jul 2013 | 10:41 am
The Balance Sheet and Income statement of companies across the Globe are usually prepared for a period of 1 year. However, the date from which this period starts varies from country to country. In Ind...
