Tag: How to?
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Income Tax Settlement Commission-application process
The Income Tax Settlement Commission (ITSC) is an important Alternate Disputes Resolution (ADR) mechanism for resolving tax disputes relating to Direct Taxes. At present, four benches of the Settlement Commission are operational at New Delhi, Mumbai, Kolkata and Chennai, respectively.
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How to?-Internet Banking
Internet Banking Net banking allows you to make to do all transactions online. It gives you complete control over all your banking demands online. Internet banking provides you financial services such as fund transfers, third party payments, bill payments, opening bank accounts, closure of loan account, loan part payments, PPF transactions and issue of demand…
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How to obtain Birth Certificate
In Kerala Birth certificate can be obtained under two methods Online & Offline mode…
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Co-operation or Taxation?
It’s a common question among commerce students whether to choose cooperation or taxation. Co-operation enables the students to manage the challenges, auditing, co-operative finance etc…
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Hidden Benefits of housing loan you must read
Housing loan, in first instance it is like a burden to repay a certain amount to be paid in periodical intervals even though it is used for construction/purchase of house. But, when it comes to Tax calculation it will be beneficial to tax payer that, he can deduct the interest paid on account of housing…
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Take advantage from housing loan interest!!
According to Income Tax Act, 1961 a person receiving income from house property can deduct certain amount under section 24 as standard deduction (other than municipal tax paid in the case of let out property) from the income from house property. Standard deduction prescribed under section 24 is as follows In the case of…
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Deductions allowed from Income from House Property?
Any income received in related to house property is taxable. According to Income Tax Act, 1961 a person receiving income from house property can deduct certain amount under section 24 as standard deduction (other than municipal tax paid in the case of let out property) from the income from house property.
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What is section 54F in Capital Gain
Capital gain arising on transfer of an asset which is not a residential house(ie. any other capital asset) by Individuals and Hindu Undivided Family (HUF) are exempted to the extent of amount utilized for new residential house.Capital Gain X Cost of new House / Net Sales Consideration.