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Tax India

Set off and Carry Forward of Losses in Income Tax

January 8, 2013

Income Tax is a combined tax on the total income of a person earned during a period of one year. There might be cases where a person has different sources of income under the same head of income. Similarly, he may have income under dissimilar heads of income. It might also happen that the net [...]

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Long Term Capital Gain Tax

How to Calculate Long Term and Short Term Capital Gain Tax in India

September 19, 2012

Under Income Tax Act, 1961 one of the heads where your sale of asset is taxed is called – Capital Gains. When we buy any kind of property for a given price and then subsequently sell it at a higher price, we make a gain (Sale Price – Cost Price). The gain on sale of [...]

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How an NRI can gain from Falling Indian Rupee

June 26, 2012

For a Non-resident Indian (NRI), one of the big questions is to invest in India or not, if yes – what is the right time to invest, what are NRI investment options and how much will be the return of investment if they invest in Indian stock markets, Indian equities and real estate etc. The [...]

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Clubbing of Income Tax Implications

May 12, 2012

Largely an assessee is taxed in respect of his own income while computation of total income in respect of income tax. But sometimes owing to some circumstances this elementary principle is strayed and the assessee can be taxed in respect of income which legally belongs to other person. Clubbing of Income Meaning Inclusion of other’s [...]

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Long Term Capital Gains Tax (LTCG) on Property Sale

April 28, 2012

Anything and everything that is sold in this country bring tax implications and property is no different. Infact, long term capital gains tax on property or LTCG on property is something that must be area of consideration while planning to sell property. Capital gain is one of the heads prescribed under Indian income tax act, [...]

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How to avoid TDS by submitting Form 15H and Form 15G

April 14, 2012

For every income we earn whether it be in the form of salary, interest, dividend etc. we are charged tax on it. Broadly, there two ways by which we pay taxes, one by paying taxes via challans before filing returns and secondly, via TDS. In cases where our total taxable income does not exceed the [...]

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What is Transfer Pricing in India

March 29, 2012

The increasing participation of Multi-National Companies in economic activities has given birth to new and complex issues emerging from the transaction entered into by the by the Inter-group companies of that MNC. The profits derived by such group enterprises can be controlled by manipulating the price charged causing erosion of tax revenues. The law on [...]

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3 Points to keep in mind while you choose Mutual Funds

February 11, 2012

Choosing mutual Funds to invest is a much safer bet than investing in direct stocks for a very simple reason that mutual Funds boast of being less risky than stocks. It is often said that for a naïve investor, investing in Mutual Funds should be a high priority item for the simple reason – lesser [...]

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Direct Tax Code (DTC) 2012: Features and when will it be implemented

January 8, 2012

Direct Tax Code Bill was first introduced in Lok Sabha on August 30,2010 by Finance Minister Mr. Pranab Mukherjee. It was a freshly written white paper turned bill that aimed at introducing strong changes to the tax structure, capping all the loopholes possible and bring strong applicability of compliance in India When Direct Tax Code (DTC) [...]

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Income Tax Planning for NRI

December 29, 2011

When an Indian settles abroad and looks for investment of funds esp. in order to save taxes, first thing that crosses his mind is investment in homeland. For two basic reasons – one, money multiplication on conversion into INR and two, tax saving options in India. Managing funds aren’t an easy task but if done [...]

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