Incometax

Where a HUF, which has been assessed as a HUF, undergoes partition ,the following procedures shall be adopted    

                                   Clubbing of Income

“IF GROSS RECEIPTS FROM A COMMERCIAL ACTIVITY EXCEEDS RS. 25 LAKHS, TRUST WILL NOT BE REGARDED AS CHARITABLE INSTITUTION” “ANONYMOUS

Advance Tax                 Every person is liable to pay Advance Tax if advance tax payable is RS 10000 or more.

We all know about the popularly know deductions like deduction u/s. 80C & 80D. But many times we use to

                                   COMPUTATION OF DEDUCTION U/S 80G CATEGORY GQA (Total Amount Donated) NQA Amount of Deduction I (17 Items) 100% 100%

The Central Board of Direct Taxes (CBDT) has issued new income tax return forms for those holding assets outside India,

Here are some of the things must to do:  1.         Ask for the search order or warrant and ensure that

FINANCE ACT,2011 As per the Finance Act, 2011, income-tax is required to be deducted under Section 192 of the Income-tax

Income tax slabs 2011-2012 for General tax payers0 to 1,80,000 No tax1,80,001 to 5,00,000 10%5,00,001 to 8,00,000 20%Above 8,00,000 30%