income tax

Eligible Business under section 44AD ||Who is eligible and not eligible to take advantage of the presumptive taxation scheme of section 44AD?

​​​​​​​Eligible Business under section 44AD The presumptive taxation scheme of section 44AD of income tax Act 1961 can be adopted…

7 years ago

What is pre-construction period?||Home loan tax benefit

What is pre-construction period? While computing income chargeable to tax under the head "Income from house property" in case of…

7 years ago

What are the provisions relating to computation of capital gain in case of transfer of asset by way of gift, or through Will, etc.? || Capital Gain on Gifted Assets

Capital Gain on Gifted Assets Capital gain arises if a person transfers a capital asset. (land, building or jewelry or…

7 years ago

Who is covered by tax audit (As per Section 44AB)? ||Tax Audit Applicability ||Work-in progress does not constitute ‘Turnover/Gross sales’ within the meaning of section 44AB of Income tax ||Section 44AB of income tax applicable to only business Income

Who is covered by tax audit ? FAQ deals with Income Tax  Audit Provisions in India. As per section 44AB,…

7 years ago
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