Jul 31, 2016

New Hard Law for Benami Properties- Some Points to Know

In an attempt to restrain the generation of black money in domestic market, the Lok Sabha has approved the Benami transactions Prohibition...

Jul 30, 2016

CBDT Extends Last Date of Filing Return of Income to 5 August 2016

CBDT extends last date of filing return of income from 31 July to 5 August whereas in the State of Jammu and Kashmir, the last date of fil...

Home Loan Prepayment Charges are deductible as interest u/s24B

Prepayment charges and processing fee made for purpose of availing loan at lower interest cost are allowable under section 24(b) Facts...

Jul 29, 2016

How Retail Demat A/c Holder Participate in Negotiated Dealing System – Order Matching (NDS-OM)

As announced in the First Bi-monthly Monetary Policy Statement, 2015-16, an Implementation Group with representation from all the stakehol...

Things You Should Know About Excise Duty on Jewellery

The Central Government proposed to impose excise duty on manufacturing of jewellery except silver jewellery (other than studded with diamo...

Jul 28, 2016

CBDT Clarification on Attaining Age 60/80 Years Whose DOB falls 1 April

Clarification regarding attaining prescribed Age of 60 years/80 years on 31st March itself, in case of Senior/Very Senior Citizens whose d...

7 Things You Must Know About 7th Pay Commission

The Govt. has decided to increase salaries of employees and pensioners in line with the recommendations of 7th Pay Commission. This move w...

No Excise Audit for Jewellers if Duty less than 1 Crore in First 2 Years

Guidelines for Excise Audit of Manufacturers / Principal Manufacturers of articles of jewellery or parts of articles of jewellery - regard...

Jul 27, 2016

Non Performing Employees won't Get Annual Hike-7th Pay Commission Filalized and Excel Calculator

The Seventh Central Pay Commission (Commission) was set up by the Government of India vide Resolution No. 1/1/2013-E.III (A), dated the 28...

Jul 26, 2016

When You Should Say Yes to Personal Loan

We all work hard to sustain ourselves and to save for our future. But every now and then, this is not enough. We fall short of money and m...

Jul 25, 2016

CBDT Prescribed Buyback Tax of Shares u/s 115QA

Under section 115QA of the Income-tax Act, 1961 (the Act), additional Income-tax at the rate of 20 percentis levied on the distributed inc...

Income Tax Deductions Allowed Beyond 80C Which You May Miss

Most of us are aware of the concept of deductions from gross total income available to a taxpayer. One can claim deductions from one's...