Monthly Archive: November 2015

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Basics of VAT

What is Value Added Tax (‘VAT’)? The etymology behind the term ‘Value Added Tax’ is that VAT is the tax, only for the value added by the seller/merchant. In the old sales tax regime which is...

TDS 0

TDS For Sure……..??

IN this world of ever changing Technology, everything from buying a pencil to a car is done using smart-phones, similarly the recent growing trend among the working population and also with the students group...

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On Sticky Wickets ??

Hunting Pvt. Ltd.  is a closely held company with paid up share capital Rs.10 lakh and borrowings from banks amounting to Rs.40 crore . Mr.Goodwill is its Managing Director and Majority shareholder (70%). Mrs....

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Basics of Service Tax

Service Tax forms the second best source of revenue for Government of India after Income Tax but on the contrary, a bane for many, just for the rate.   Let us understand the basics...

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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...

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Income from House Property

There are many questions which goes around our mind, when it comes to house property, as to what constitutes income from house property , how is it taxed, what are the benefits available to...