The Indian Income-tax Act, 1961 (hereinafter referred to as the “Act”) provides for deduction in respect of certain expenses incurred by an individual or a Hindu undivided family. Section 24 deals with income tax deduction from house property. The section specifies that any person who is a resident and owns a residential accommodation shall be entitled […]
Black money is a major threat to the Indian economy. Section 269St was inserted in Income Tax Act,1961 to curb the problems caused by black money.
Black money has been a major threat to our economy. Many taxpayers use only cash transactions in order to evade their tax liabilities and their responsibility towards the country. Cash transactions […]
Depreciation rate is mentioned in the Income Tax Act for investments made in furniture, plant, and machinery by an assesses during the FY. The concept of depreciation is mainly used for writing off the cost of an asset over its useful life. It is a compulsory deduction either in the Straight-Line method or […]
Section 44AB of the Income Tax Act imbibes in itself provisions regarding the tax audit under the Income Tax Audit. A tax audit is an analysis of a taxpayer’s accounts book. The analysis is conducted to make sure that the taxpayer has accurately maintained the books of accounts and other records. Apart from this, […]
Sukanya Samriddhi Yojana is also named as Girl Child Prosperity Account. This yojana was introduced by Prime Minister – Narendra Modi in 2015 with pride and peace for girls. This scheme is a part of the Beti Bachao Beti Padao campaign. For more details about the Sukanya Samriddhi Yojana scheme login to https://www.india.gov.in/sukanya-samriddhi-yojna
Sukanya […]
