Rebecca Ghomes

How can you get tax exemption by selling your asset under Section 54F Income Tax Conditions? 2 min read

• Home Loans
• Income Tax

How can you get tax exemption by selling your asset under Section 54F Income Tax Conditions?

Rebecca Ghomes 9 years ago

Whenever we decide to sell any long-term capital asset, the gains are large but the tax to be paid is indeed huge too. Gains on... Read More

How to manage your taxes even if you miss the deadline with Belated Income Tax Return Process? 4 min read

• Income Tax

How to manage your taxes even if you miss the deadline with Belated Income Tax Return Process?

Rebecca Ghomes 9 years ago

If the income tax return is not submitted within the stipulated timeline it is called Belated Income Tax Return. One can still file the return... Read More

Assessment of income of third person under the Income Tax Act 3 min read

• Income Tax

Assessment of income of third person under the Income Tax Act

Rebecca Ghomes 9 years ago

Section 153C – Under this provision provides for the procedure for assessment of income of any other person. Section 153C (1) provides that notwithstanding anything... Read More

New provisions in GST Laws – Is it a new threat to small businesses? 2 min read

• GST

New provisions in GST Laws – Is it a new threat to small businesses?

Rebecca Ghomes 9 years ago

It has been revealed that the new provisions in GST laws will give sweeping investigating powers over small businesses. This is, in fact, a great... Read More

Tribune Trust Chandigarh vs. Commissioner of Income Tax- Whether the Objective of Trust is Charitable to Qualify for Income Tax Exemption 3 min read

• Income Tax

Tribune Trust Chandigarh vs. Commissioner of Income Tax- Whether the Objective of Trust is Charitable to Qualify for Income Tax Exemption

Rebecca Ghomes 9 years ago

The date of pronouncement of this case was December 23, 2016 and it was published on December 29, 2016. The high court had to consider... Read More

Change in the Rates of TDS for FY 2017-18 and the applicable areas 6 min read

• Income Tax

Change in the Rates of TDS for FY 2017-18 and the applicable areas

Rebecca Ghomes 9 years ago

TDS means Tax Deducted at Source and this is one of the modes by which taxes are collected. This chart features the tax deduction rates... Read More

The Scenario of Real Estate under GST 3 min read

• GST

The Scenario of Real Estate under GST

Rebecca Ghomes 9 years ago

Real Estate is one such sector in India that has been growing fast immensely over the years. The direct impact of GST on real estate,... Read More

Now you can easily communicate with the IT department through online assessment 3 min read

• Income Tax

Now you can easily communicate with the IT department through online assessment

Rebecca Ghomes 9 years ago

It is very easy to view the email of the notices issued by the Income tax department and even respond to the same by logging... Read More

The case of Bogus Purchases Vs Accommodation entries 3 min read

• Income Tax

The case of Bogus Purchases Vs Accommodation entries

Rebecca Ghomes 9 years ago

As an example of the Sections 68 and 69C of the Income Tax Act of India, 1961, the case of CIT Vs Ashish International (Bombay High... Read More

What does it mean by the term ‘search and seizure’ under Income Tax Act of India? 6 min read

• Income Tax

What does it mean by the term ‘search and seizure’ under Income Tax Act of India?

Rebecca Ghomes 9 years ago

One of the most powerful weapons for the Income Tax Department of India is the power of search and seizure. This power enables the authorized... Read More