by CA Chinmay Shirish Agate | May 19, 2024 | Taxation
Public Provident Fund (PPF) is a long terms saving cum investment plan, generally implemented by individuals for planning their retirement savings. PPF fund is a facility provided by government of India to every citizen of this country. PPF is one of the safe...
by CA Chinmay Shirish Agate | May 19, 2024 | Taxation
Everyone loves to receive gifts from their near and dear ones. However, income tax act has some key points to mention for people about to receive gifts. There are certain gifts on which tax is applicable and some gifts on which no tax is applicable. Gifts can be in...
by CA Chinmay Shirish Agate | May 19, 2024 | Taxation
A tax audit involves an expression of the tax auditor’s opinion on the truth and correctness of certain factual details, furnished by the assessee to the Income Tax Authorities. This is done to ascertain the correctness of details of income as provided by the...
by CA Chinmay Shirish Agate | May 18, 2024 | Taxation
It is often observed in the case of certain trusts that incomes or gains accrue or accumulate over a period. Usually, the objective of the funds received by trust are to utilise the same for charitable purposes or purposes on which grounds the registration was sought...
by CA Chinmay Shirish Agate | May 9, 2024 | Taxation
Sale of capital assets is one of the important areas where taxation plays an important role. Any gains arising on such sale of capital assets are also eligible for certain deductions from income tax. Capital gains usually long term capital gains attracts various tax...
by CA Chinmay Shirish Agate | May 8, 2024 | Taxation
Advance tax, also known as “pay-as-you-earn” tax, is the income tax payable in advance by taxpayers on their estimated income for the current financial year, where this tax is paid in instalments instead of paying a lump sum tax at the end of the year....
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