Simplified Laws Guide to Taxation and Legal Concern

Mr.Sanjay purchased shares of a company, which was later barred from trading, almost seven years ago. Can he claim the loss incurred due to the same while filing his return this year? If yes, under which head should he claim it? We have to refer Section 45 and Section 2(47) …

Mr. Vasudev owns 2 flats, one in Basavanagudi and another one at Sanjaynagar. He is staying at Basavangudi and the 2nd flat is empty. The monthly rent of neighboring flat at Sanjaynagar is Rs.25,000 per month.  Mr. Vasudev wants to know how much notional rent he has to consider while …

A notification is published in the Official Gazette by the Government in exercise of the power derived from a legislative enactment or provision. When you read “as may be prescribed”, the information published can be in the form of Rules or Notifications. It is part of the Act and binding …