I am reading a book ‘Hind Swaraj’ written by Mahatma Gandhi in 1908. Chapter 5 of this book mentions about ‘The conditions of England’. He explains the Parliament of England, its functioning etc. While reading this Chapter, I felt as if someone (a modern Indian) is writing about present day ...Read More »
I am in a half mind about writing this article. I am not sure whether there are many takers for my views expressed here. ‘I don’t know what this housemaid does’ ‘She just takes the salary and never does any work’ ‘She takes leave as and when she wants’ ‘She ...Read More »
I have just finished one round of tax filing work for the financial year 2014-15. While going through the tax questions from the clients, I realized the complications and confusions created by the age old Income Tax Act. Incidentally, in today’s Economic Times, the new revenue secretary Mr. Hasmukh Adhia ...Read More »
Service tax levy on services provided by a Goods Transport Agency – Clarification by the department vide circular no. 186 dated 5th Oct 2015.
The All India Transport Welfare Association (AITWA) has represented regarding the difficulties being faced by the Goods Transport Agencies (GTAs) in respect of service tax levy on the services of goods transport. Doubts has been raised by the All India Motor Transport Congress (AIMTC) regarding treatment given to various services provided by GTAs ...Read More »
Time and again the Central Board of Direct Taxes (CBDT) is giving clarifications regarding the Income Tax refunds and the process of selection of cases for scrutiny assessment. There is a misconception among the general public that the Income Tax Officers (ITOs) can pick up the cases for scrutiny as ...Read More »
Have you checked the rate of interest on your loan? Read to know the practical cases of high interest charged by the bankers.
If you ask any traditional businessman, he will out right reject the loan facility proposed by private or new generation banks. It is believed that private banks charge higher rate of interest as well as debit ‘hidden’ charges! Contrarily, the nationalized banks offer lower rate of interest without any hidden ...Read More »
Tax deduction u/s 80C for Installment payment towards the house property or repayment of housing loan
Section 80C of the Income Tax Act, 1961 deals with deductions in respect of certain payments during the previous year from the total income of an Individual or HUF subject to a maximum of Rs.150000. Instalment payment towards the property loan or repayment of housing loan is one of the ...Read More »
For the time being, let’s forget the recommendations done by SIT. I have some recommendations to make! If my recommendations are implemented, the government can block many black money generating avenues! Please read and comment whether my suggestions make sense or not! You may disagree with me, but it is ...Read More »
This is in continuation to my previous article ‘what are the recommendations of SIT on curbing black money? Part 1’ Misuse of exemption of Long Term Capital Gains Again, there is nothing new in the SIT report here. The rigging in stock market is not a new revelation. It’s been ...Read More »
Previous Article: How black money is converted into white money I want to begin this article with an analogy. Assume you hire the services of a doctor to find out the reasons for a ‘cold’. He comes out with a detailed 30-page document (after 6 months) listing out the reasons such ...Read More »