What does agriculture include? Agriculture includes aquaculture, horticulture, dairy farming, poultry, breeding of livestock, plantation, apart from growing crops.  Are BBMP Officials agriculturists, who cut trees in the city of Bangalore? No. cutting of trees or wood/timber is a business! The land used for agriculture purposes is called as Agricultural ...

Point 1: When an employee resigns from the company, he has to give minimum 30 days of notice (and in some roles, even more) and during this period he has to complete the pending tasks, do Knowledge Transfer (KT) and handover the charge. But for the so-called high-profile job ‘Governor ...

You would have got many mails or pdf documents covering the highlights of the Union Budget 2018. Hence, I chose to write only the important points here # 1 – Salaried employees – Currently, Rs.15000 per year towards medical reimbursements and Rs.1600 per month towards travelling allowance is available as ...

If you are an individual, taken a house / flat on a monthly rent of Rs.50000, you have to deduct tax (TDS) at the rate of 5% and pay it to the government. Are you aware of this TDS provision on Rent? If not, here you go- A new Section ...

Hello My NRI friends, Do you own a property, say House, plot or a flat in India? In case you hold one and decide to sell such property, you are subject to Capital Gain Tax. How much taxes are to be paid? It depends on the period of holding of ...

Here is a query from one of our clients. His father-in-law sold a flat and reinvested the money in another flat in December 2017 and claimed tax exemption u/s 54 of the IT Act. He wants to know will the tax exemption claimed u/s 54 be withdrawn if he decides ...

As per the amendment in PMLA rules by the Government, all bank accounts should be linked with Aadhaar before 31st Mar 2018; failing which the accounts will become inoperative till the time the Aadhaar number is submitted and linked to the accounts. So, what about NRIs who are not having ...

Why PPF find a place in the investment portfolio of every investor? Simple, the investment in PPF is eligible for deduction u/s 80C of the Income Tax Act (means, if you invest in PPF, you pay less tax), interest earned is exempt from tax (unlike, bank Fixed Deposit interest which ...

  Services such as transportation, catering, security, cleaning or house-keeping, admission or conduct of examination, etc., provided to educational institutions are exempt from service tax till 31st March 2017 From 1st April, 2017 except services to pre-school education and education up to higher secondary school or equivalent will attract service ...

Here is a live case! I just finished a call with Mr.Amar, an NRI staying in USA. I understood from him that he has a flat in Koramangala, which was bought in 2011 for Rs.80 Lakhs which he now intends to sell for 1.52 Crores. Our talk went as under ...