Income for house property held as stock-in-trade Summary : As per Finance Bill 2017 w.e.f 01.04.2017 i.e FY 2017-18 (AY 2018-19) where the house property consisting of any building and land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part… Read More »
Period of Holding Property Summary :- As per Amended section 2 (42A) of Income Tax Act, by Clause 3 of Finance bill 2017 , w.e.f 01.04.2017 (AY 2018-19) if immovable property, being land or building or both, is held for 24 months than it will be treated as long term capital asset. [Clause 3 of Finance Bill… Read More »
CPT Exam Books / Common Proficiency Test Exam Books we have compiled CPT Exam Books / Common Proficiency Test Exam Books of ICAI Section-A : Fundamentals of Accounting Fundamentals Of Accounting For CA CPT By CA Raj K Agrawal – 2016 This book has 192 pages incorporates all concepts in simple language and contains numerous MCQ’s… Read More »
In-Depth Analysis of Changes in Service tax by Budget 2017 (Finance Bill 2017) – By CA Atul Kumar Gupta Published on Feb 1, 2017 Hon’ble Finance Minister Shri Arun Jaitley presented Union Budget for Financial Year 2017-18 on 1st February 2017. In the Budget speech, Hon’ble Finance Minister proposed a number of changes under Direct… Read More »
Capital Gains Related Amendment in Finance Bill 2017 Shifting base year from 1981 to 2001 for computation of capital gains The existing provisions of section 55 provide that for computation of capital gains, an assessee shall be allowed deduction for cost of acquisition of the asset and also cost of improvement, if any. However, for… Read More »
Rationalization of taxation of income by way of dividend (As per Clause 44 of Finance Bill 2017) Under the existing provisions of section 115BBDA, income by way of dividend in excess of Rs. 10 lakh is chargeable to tax at the rate of 10% on gross basis in case of a resident individual, Hindu undivided… Read More »