CBIC FAQ’s on Restaurant Service’ supplied at ‘Specified Premises’ Frequently Asked Questions on ‘Restaurant Service’ supplied at ‘Specified Premises’ SI. No. Question Answer 1. What do you mean by ‘specified premises’? W.e.f. 01.04.2025, the definition of specified premises shall be as under: “Specified premises”, for a financial year, means,- (a) a premises from where the… Read More »
New Banking Rules 2025 बैंक खाते में यह गलती मिली तो होगा सारा पैसा जब्त ! Banking News update
CHAPTER IV COMPUTATION OF TOTAL INCOME D.— Profits and gains of business or profession Clause 26 Income Tax Bill 2025 Income under head “Profits And gains of business or profession”. 26. (1) The income from any business or profession carried on by the assessee at any time during the tax year shall be chargeable to income-tax… Read More »
CHAPTER IV COMPUTATION OF TOTAL INCOME C.— Income from house property Clause 22 of Income Tax Bill 2025 : Deductions from income from house property 22(1) The income under the head “Income from house property” shall be computed after allowing the following deductions:–– (a) 30% of the annual value; (b) where the property has… Read More »
CLAUSES 25 of INCOME-TAX BILL 2025 Interpretation CHAPTER IV COMPUTATION OF TOTAL INCOME C.— Income from house property CLAUSES 25 of INCOME-TAX BILL 2025 Interpretation 25. For the purposes of sections 20 to 24, the “owner” in relation to a property shall include–– (a) an individual who transfers without adequate consideration, any property to the… Read More »
CHAPTER IV COMPUTATION OF TOTAL INCOME CLAUSE 24 of THE INCOME-TAX BILL 2025, Property owned by co-owners (1) For property co-owned with definite and ascertainable share, the co-owners shall not be assessed as an association of persons and their income computed separately as per their respective share under this Chapter shall be included in their… Read More »
CHAPTER IV COMPUTATION OF TOTAL INCOME CLAUSE 20 of INCOME-TAX BILL 2025. Income from house property (1) The annual value of property consisting of any buildings or lands appurtenant thereto, owned by the assessee shall be chargeable to income-tax under the head “Income from house property”. (2) The provisions of sub-section (1) shall not apply… Read More »
CHAPTER IV COMPUTATION OF TOTAL INCOME CLAUSE 21 THE INCOME-TAX BILL 2025 Determination of annual value. (1) For the purposes of section 20, the annual value of any property shall be deemed to be the higher of the following:— (a) the sum for which it might reasonably be expected to let from year to year;… Read More »
NEW GST RULES FROM 1ST APRIL 2025 ! जीएसटी चोरी करना पड़ेगा भारी ! GST LATEST UPDATE
UNDERSTANDING STATEMENT OF FINANCIAL TRANSACTION (SFT) To keep a watch on high value transactions undertaken by the taxpayer, the Income-tax Law has framed the concept of statement of financial transaction or reportable account. With the help of the statement the tax authorities will collect information on certain prescribed high value transactions undertaken by a person… Read More »