Here are new income tax rates for FY 2020-21! and their effects on taxpayers
Income tax levied on Individual taxpayers on the basis of slab system. Slab system means different tax rates are prescribed for...
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ITR Filing dates extended for AY 2021-22: Here are new dates for ITR filing
Income tax department (IT department) recently extended the dates of filing returns for the year 2020-2021 due to covid-19. New dates for...
Documents that you should have, otherwise have to pay tax on gifts
One of the most common modes of transfer of property and money is by way of a gift. A gift can be a transfer of movable or immovable...
How to get Aadhaar Card online through UIDAI website or mAadhaar app
If your Aadhaar card is lost or misplaced then, getting an Aadhaar card has become very easy through UIDAI website or mAadhaar app. The...
Know the tax implications on gains made on stocks
For those who are just starting on stock market investments or have been at it for some time but are only now facing the burden of...
How to register yourself on income tax e-filing website
To file your ITR, you have to register yourself on the Income Tax department's e-filing website. The process of registrations is quite...
Corrections of mistakes while filing ITR (Income Tax Return)
At the time of filing our Income Tax Return (ITR), sometime it may happen that we make a mistake while filing our ITR at last minute....
NOTIONAL SALE CONSIDERATION (DEEMED)
[Section 45(1A)] Insurance claim received on damage or destruction of capital assets Where any person receive any money or other...
Abdul Karim Telgi Scam, 2003
Abdul Karim Telgi was born in Khanpur, Karnataka. His father was an employee working for Indian Railways, who died when Telgi was a...
Success story of Bewakoof.com
Bewakoof is the fashion e-commerce startup that offers a trendy collection of apparels. Prabhkiran Singh and Siddharth Munot launched...
APPOINTMENT, ROTATION, RE-APPOINTMENT & REMOVAL OF DIRECTORS
Appointment of Directors Every director shall be appointed by the company in general meeting, Every person to be appointed as director is...
DIRECTOR IDENTIFICATION NUMBER (DIN)
Any Individual, who propose to be appointed as a director of a company shall make an application electronically in DIR-3 to Central...
TYPES OF DIRECTORS
DIRECTORS AS PER COMPANIES ACT, 2013 [Section 2(34)] Director means a director appointed to the Board of a company. [Section 2(10)] ...
Companies with Charitable Objects (Section 8)
Under section 8, a licence given by central government to a company, formed for non-profit motive. Procedure for incorporating a...
Incorporation of a company
[Section 7(1)] There shall be filed with the registrar within whose jurisdiction, registered office of the company proposed to be...
Section 80TT of Income Tax Act (Deductions)
[Section 80TTA] Interest on Deposit in Saving Account Applicable to an Individual (other than senior citizen covered under section...
Section 80G (Deductions) of Income Tax Act, 1961
[Section 80G] Donation to Certain funds Applicable to all assessee Following conditions must be fulfilled: (a) Assessee must donate to...
Section 80E of Income Tax Act, 1961 (Deductions)
[Section 80E] Repayment of loan for Higher Education Applicable to an Individual. Following are the conditions, that must be...
Types of Companies as per Companies Act, 2013
As per section 2 of Companies Act, 2013, companies are of various types. Companies are classified as follows: [Section 2(68)] Private...
CLUBBING OF INCOME
[Section-60] Transfer of income without transfer of assets (i) If any person transfer any income from any assets without transferring...
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