Recent Posts

Beware of penalty on Cash Transactions

  Wherever possible, avoid cash transactions. There are draconian provisions under Income Tax Act which may hurt your peace of mind! Read this article to know more about it.   Firstly – Are you an income taxpayer? If yes, you are not allowed to accept Loan, Deposit, Repay loan/deposit by …

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Prepare to pay tax on Undisclosed Foreign Income and Assets

  Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 Where is Black money stashed abroad? When will it hit Indian shores? Will it ever come to India? Is it just hype, a myth? These are the questions lingering in the minds of millions of Indians. No one is …

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Practical issues in capital gain on sale of property

  Post sale of the property, the seller will have to take certain precautions to save on capital gain tax. Some of them are discussed in this article.    Deposit the sale consideration in SB Account: After the sale takes place, the seller can deposit the demand draft/cash/cheque in his …

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