Daily Archives: June 16, 2018

School Tuition Fees Deduction u/s 80C of Income Tax

By | June 16, 2018

Tuition Fees Deduction under Income Tax Act (India) Section 80C The taxpayer can claim deduction under section 80C in respect of amount paid by him during the year towards tuition fees (excluding development fees, donation or similar payments) paid at the time of admission or thereafter, to any university, school, college or other educational institution… Read More »

Income tax Treatment of cash credit

By | June 16, 2018

TAX TREATMENT OF CASH CREDITS Income tax Treatment of cash credit [As amended by Finance Act, 2018] Any sum found credited in the books of the taxpayer, for which he offers no explanation about the nature and source thereof or the tax authorities are not satisfied by the explanation offered by the taxpayer, is termed as… Read More »

 List of Income Tax benefits available to Small Businessmen AY 2019-20

By | June 16, 2018

 List of Income Tax benefits available to Small Businessmen List of Income Tax benefits available to Small Businessmen AY 2019-20 [As amended by Finance Act, 2018] [AY 2019-20] S.N. Particulars Section Benefits/Deductions allowed A. Presumptive Taxation Scheme 1. Computation of income from eligible business on presumptive basis under Section 44AD provided turnover or gross receipts of eligible… Read More »

Limit & Penalty on Cash Transaction w.e.f 01.04.2017 -Income Tax ( India)

By | June 16, 2018

Don’t use cash for these transactions w.e.f 01.04.2017 S. no. Section Cap on cash transaction Penalty for cash transaction 1. 13A -Exemption to political parties Receipt of cash donation above Rs 2,000 No exemption 2. 40A(3)- Disallowance for cash expenditure Payment of any expenditure above Rs. 10,000 No deduction Payments for plying, hiring or leasing… Read More »

GST Refunds Book June 2018 Edition Taxmann by Aditya Singhania 

By | June 16, 2018

GST Refunds (Special Drive Refund Fortnight From 31-5-2018 to 14-6-2018) by Aditya Singhania (Author) Description Incorporating: Refund procedures Refund of excess payment of tax Refund of excess balance in electronic cash ledger Export Procedures Export of goods and /or services on payment of IGST Export under bond or letter of undertaking SEZ Refund Procedures Deemed exports Miscellaneous… Read More »

Book GST (CA-Intermediate) by V.S Datey : For November 2018 Exams (As Per New Syllabus) : Paper 4 : Taxation (Section B)

By | June 16, 2018

GST-Paper 4 : Taxation (Section B : Indirect Taxes)(CA-Intermediate) (For November 2018 Exams-As Per New Syllabus) Description Simplified theory Fully solved numerical problems All amendments upto 30th April 2018 Also suitable for CS-Executive Course Price Rs 490.Click to buy online   Author : V.S. Datey Edition : 2018 Edition Date of Publication : June 2018 ISBN No.:9789387957220 Binding : Paperback… Read More »

New GST News and Circulars 16.06.2018

By | June 16, 2018

New GST News and Circular 16.06.2018 [ Join online GST Course by CA Satbir Singh ] New GST News on Eway Bill Delhi Intra-State e-way bill from 16.06.2018 : Notification Multiple Vehicle Option for e-Way bill on Eway Bill Portal Eway Bill New Updates on EWay bill Portal : GST News 326 No Eway bill… Read More »

Depreciation Rates under Income Tax [ As amended by Finance Act 2018]

By | June 16, 2018

Depreciation Rates under Income Tax Depreciation Rates under Income Tax [As amended by Finance Act, 2018] AS APPLICABLE FROM THE ASSESSMENT YEAR 2003-04 ONWARDS   Block of assets Depreciation allowance as percentage of written down value AYs 2003-04 to 2005-06 AY 2006-07 to AY 2017-18 AY 2018-19  onwards 1 2 3 4 PART A TANGIBLE ASSETS… Read More »

Income Tax on Long Term Gains

By | June 16, 2018

Income Tax on Long Term Gains [As amended by Finance Act, 2018] Introduction Gain arising on transfer of capital asset is charged to tax under the head “Capital Gains”. Income from capital gains is classified as “Short Term Capital Gains” and “Long Term Capital Gains”. In this part you can gain knowledge about the provisions… Read More »