Income Tax

Gold is another kind of asset which is taxable in the form of Capital gain on sale of Gold, In this article, we’ll clear all your question and raise your knowledge related to gold limit for individual in India 2020 & what is the Tax on Gold in India of sale/Purchase and holding of Gold in … Read more

How to claim the 80tta deduction for FY 2019-20 on interest income bank deposits. Yes, Under section 80TTA, if you earn income your bank deposit, that would be exempted (but not wholly). The income received in the form of interest from a bank savings account is taxable, however, the amount up to ₹ 10000 is exempted … Read more

Agriculture land which is reducing day by day for basic agriculture purposes, the main cause is population everybody wants land for agriculture or some other purpose, like (residential, commercial etc). This article is all about capital gain on sale of agricultural land. In India agriculture land only be available in a rural area or urban … Read more

Many Taxpayers need to learn Tax on income earned from Equity or mutual funds, and Capital Gains Tax On Shares. This article is mainly focused on the computation of capital gain tax on the sale of Equity or mutual funds. Income/Loss from sale of equity shares is covered under the head ‘Capital Gains’ Before dinning … Read more

Interest Penalty u/s 234A, 234B & 234C under Income tax act with example and Download Excel calculation Sheet Paying your installment on time will appreciate your credit rating, on the other hand, Paying interest under section 234A, 234B & 234C mark a dent on your savings. The same phenomena rule under income tax payment. In this … Read more

Budget 2019 not only brings a new section 80EEA for interest exemption of addition Rs 1. 5 Lakhs for an affordable home loan, but also introduced section 80 EEB which would give tax exemption up to Rs 1.5 Lakhs on interest paid for the purchase of electric vehicles.  Both the section is introduced from FY … Read more

Section 80EEA introduced in July Budget 2019 with the objective “Housing for all”. The government has extended the benefit for the FY 2019-20. The main motive to the introduction of the section is to provide affordable housing finance for every class in common man and to enable the home buyer to have low-cost funds. In … Read more

  Understanding Income Tax Slab before calculation and assessment of tax is very important for tax expert as well as a common man. Let’s begin with the bottom: Income Tax Slabs for A.Y. (2001-02) Income Tax Slabs for A.Y. (2002-03) Also, Read Mistake rectification under section 154 of income tax act. Income Tax Slabs for … Read more