Category: Personal Taxation

Personal Taxation

allowance 0

The One with a Private Jet

The word ‘Perquisite’ is derived from the Latin word ‘perquisitum’ meaning, something acquired for profit. Dictionary.com defines Perquisite as, “an incidental benefit gained from a certain type of employment, such as the use of a company car” Ross was working in an MNC as the senior R&D head. He is...

Land House property 0

Effing Exemptions (Contd)

For the story so far click here Only an individual or HUF can claim exemption. Asset sold (original asset): Any long term capital asset other than residential house property. On the date of sale...

Land House property 0

Effing Exemptions

Rajat has been working as a senior manager of marketing at one of the reputed telecom companies in the country for the past 25 years. He had a great affinity towards gold and was...

capital-gains 0

Capital Gains

Capital gains refer to profit earned on transfer of a capital asset. A transfer includes sale, relinquishment, exchange, renouncement, extinguishment, compulsory acquisition, etc. However, under provisions of income tax, there are certain transfers which...