If the agricultural land under question falls within the definition of rural agricultural land, i.e., falls within the specified limits of the nearest municipal authorities, then it is not considered a capital asset, says wri
As per Finance Act 2018, exemption for LTCG on equity-oriented mutual funds (including ELSS) has been withdrawn, therefore no exemption will be available in respect of LTCG from ELSS on or after April 1, 2018 and such LTCG in
When the firm gives you Form 16 for FY18-19, there should be a clear bifurcation of the total gratuity received, into Rs 10 lakh considered as tax free amount and balance on which tax has been deducted.
The application to settlement commission for settlement under Section 245C can be made at any stage of the case if the proceedings for assessment is for previous six assessment years and additional amount payable exceeds Rs 5
As per Section 56(2)(x) of Income Tax Act, if the purchase price of a property is less than the stamp duty value and the difference is more than 5% of the purchase price or Rs 50,000 (whichever is higher), then the difference
TDS shall be calculated on complete sale value and not just carpet area and car parking. Further, Central Board of Direct Taxes issued Circular No. 23/2017 dated July 19, 2017 wherein it clarified that GST shall be excluded f
The revised gratuity limit is applicable for retirement after March 29, 2018 and not before this date. Since you retired on September 30, 2017, the limit of Rs 10 lakh for gratuity exemption shall be applicable for you.