1. Introduction:- Under the existing provisions of section 45, capital gain is chargeable to tax in the year in which the transfer takes place except in certain cases.The definition of ‘transfer’, inter alia, includes any arrangement or transaction where any rights...
1.Definition of agricultural Income: Any rent or revenue derived from agricultural landAny Income derived from such land by-i) agriculture, orii) processing of agricultural produce, oriii) sale by a cultivator or receiver of rent-in-kind of the produce raised or...
HUF is treated as a separate entity for the purpose of assessment under Income tax act.HUF does not arise from a contract. HUF is a creation of law. After marriage, as soon as a child is born, HUF comes into existence. HF consist of Father, sons and daughters. Wife is...
1. Any person, being an individual or a Hindu Undivided Family, responsible for paying to a resident any income by way of rent exceeding 50,000 for a month or part of a month during the previous year, shall deduct an amount equal to 5% of such income as...
1.Section 40(a)(i): Non-Compliance of provision of TDS where payment is made to Non-Resident Disallowance u/s 40(a)(i) shall be attracted if:A. The amount paid or payable is interest, royalty, fees for technical services or any other sum chargeable under I.T. Act. The...
1.Deductor- Any person, [other than individual or HUF (not liable to tax audit in the preceding Financial year)]2. Deductee- Any Resident3. Time of Deduction- At the time of credit or payment, whichever is earlier.4. Rate of TDS- -For use of Plant &...
Sinewave Computer Services Pvt. Ltd. (ISO 9001-2015 Certified) is 36 years old income tax and HR solutions software development company situated in Pune, Maharashtra, India. We are catering to 20,000+ customer base across India.
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