FAQs on Stamp Duty Q. What is Stamp Duty? A. It is type of Tax collected by the State Government. Q. Why stamp duty is required to be paid? A. Stamp duty is a kind of Tax like Sales Tax or Income Tax. It must be paid in full and on time to the Government.… Read More »
The obligation of the Assessee u/s.192 is only to make bonafide estimate of income of his employee under the head salaries. Such obligation cannot be tested on the parameters laid down on exercise of power by authorities under the Act exercising powers u/s.132 or u/s.147 of the Act. IN THE ITAT BANGALORE BENCH ‘C’ Karnataka Power Transmission… Read More »
Income Tax FAQs for Senior Citizens [As amended upto Finance Act, 2018] What are the benefits available to a senior citizen and very senior citizen in respect of tax rates? Senior citizens and a very senior citizen are granted a higher exemption limit as compared to normal tax payers. Exemption limit is the quantum of income… Read More »