Sourav

Generation of surplus is not fatal for granting exemption if such surplus is utilized for charitable purposes 4 min read

• Income Tax

Generation of surplus is not fatal for granting exemption if such surplus is utilized for charitable purposes

Sourav 9 years ago

In the case of CIT vs. Gulab Devi Memorial Hospital Trust (P&H High Court), the CIT (Commissioner of Income Tax) overruled the claim made by... Read More

Whether loss on sale of shares of subsidiary is allowed as a business expenditure? 4 min read

• Income Tax

Whether loss on sale of shares of subsidiary is allowed as a business expenditure?

Sourav 9 years ago

The assessee claimed loss on sale of shares as business expenses. The issue came up before court was whether any loss on sale of the... Read More

Your ultimate guide for CA campus interviews 6 min read

• Student's Corner

Your ultimate guide for CA campus interviews

Sourav 9 years ago

There are no magic tricks for standing out, getting noticed and landing an entry level job with a campus interview. If you do follow these... Read More

Your guide in registering your Limited Liability Partnership- Is LLP better than Conventional Partnership? 2 min read

• Income Tax

Your guide in registering your Limited Liability Partnership- Is LLP better than Conventional Partnership?

Sourav 9 years ago

Limited Liability Partnership or better known as LLPs, were introduced 2008 and have quickly become a common structure for businesses today. You need at least... Read More

Income Tax Liability of NRI and Complying with Undisclosed foreign income and assets act 3 min read

• Income Tax

Income Tax Liability of NRI and Complying with Undisclosed foreign income and assets act

Sourav 9 years ago

An NRI’s (Non-Resident Indian) income taxes in India would depend on the residential status for the respective year. If the residential status is ‘Resident’ then the... Read More

Tax Planning Guide for Small and Medium Businesses 4 min read

• Income Tax

Tax Planning Guide for Small and Medium Businesses

Sourav 9 years ago

Tax planning is a highly significant aspect of running any business. In fact, it is one of the important constituents of your financial planning. Tax... Read More

Exemptions to educational institutions under Section 10(23C) (vi)(via)/ 80G available if funds utilized for charitable purposes 2 min read

• Income Tax

Exemptions to educational institutions under Section 10(23C) (vi)(via)/ 80G available if funds utilized for charitable purposes

Sourav 9 years ago

As per the Section 10 (23C) (iiiab) of the Income Tax Act, it clearly specifies that apart from the applicant looking for exemption being any... Read More

Capital Gains on Transfer of Jointly Owned Property 3 min read

• Income Tax

Capital Gains on Transfer of Jointly Owned Property

Sourav 9 years ago

Capital Gains on Transfer of Jointly Owned Property Often an assessee owns one residential property by itself, or be a joint owner along with a close... Read More

Computation of Income Tax Liability under Different heads of Income- A Beginners Guide 4 min read

• Income Tax

Computation of Income Tax Liability under Different heads of Income- A Beginners Guide

Sourav 9 years ago

Understanding Computation of Income Tax Liability As per the Income Tax Act, Income is classified under five different heads. In every financial year, either the... Read More

Money Back Rules for Lapsed LIC Insurance Policies. What if Insurance Policy has elapsed? 2 min read

• Insurance

Money Back Rules for Lapsed LIC Insurance Policies. What if Insurance Policy has elapsed?

Sourav 9 years ago

Lapsed LIC Insurance Policies – If there a way out? If the insurance premium of a policy is not paid within the specified date (including... Read More