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Beyond The Tax Book | Gautam Nayak 08:27 PM | May 16,2012
Section 54EC earlier had no restriction on the amount that one could invest in such bonds
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Beyong the Tax Book | Gautam Nayak 10:01 PM | May 04,2012
One has to remember that when one talks of simplification of tax laws, the law may be easy to understand, but a simple law would have standard one-size-fits-all type of provisions
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Beyond The Tax Book | Gautam Nayak 08:24 PM | May 02,2012
GAAR is fairly broad in nature and could have serious repercussions on all forms of tax planning
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Beyond The Tax Book | Gautam Nayak 08:14 PM | April 04,2012
Extending transfer pricing provisions to domestic transactions would also increase tax uncertainty
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Gautam Nayak 10:41 PM | March 16,2012
This Budget does not seem to have much in it for salaried employees and investors
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Beyond the tax book | Gautam Nayak 10:02 PM | March 01,2012
Long-term capital gains on sale of a residential house is exempt if it is reinvested in a residential house within the specified time limit under section 54 of the Income-tax Act
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Beyond The Tax Book | Gautam Nayak 10:03 PM | February 15,2012
In most cases of redevelopment of buildings, the society and the members of the society enter into a redevelopment agreement with a developer
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Beyond The Tax Book | Gautam Nayak 09:16 PM | February 01,2012
When deciding the amount of investment or insurance, do not forget to factor in other eligible payments by you
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Beyond The Tax Book | Gautam Nayak 08:36 PM | January 18,2012
The income of a discretionary trust is taxed at the maximum marginal rate, which is the maximum rate applicable to an individual, currently 30.90%. Therefore, it is the trustees who pay tax on the income of the trust in their representative capacity out of the trust funds
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Beyond The Tax Book | Gautam Nayak 08:51 PM | January 04,2012
There are reports that some provisions of the DTC may be introduced in the forthcoming budget, to get around the delay in passing the Bill
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Beyond The Tax Book | Gautam Nayak 08:07 PM | December 21,2011
The requirement to deduct TDS, of course, applies to individuals carrying on business or profession if the turnover or gross receipts of the business or profession exceeded the limits applicable for tax audit in the earlier year
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Beyond The Tax Book | Gautam Nayak 07:38 PM | December 07,2011
The person who will be receiving the income should file a declaration with the payer of the income, stating that such income is taxable as the income of the specified persons who are supposed to be taxed on such income
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Beyond The Tax Book | Gautam Nayak 08:33 PM | November 16,2011
The person giving the prize is required to deduct tax at source on the winnings at a flat rate of 30%
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Beyond the tax book | Gautam Nayak 12:29 AM | November 03,2011
The tax treatment of employee stock remuneration plans depends upon the type of plan, its structure and the point of time at which the vesting or exercise of the option has taken place
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Beyond The Tax Book | Gautam Nayak 09:05 PM | October 19,2011
When one is compiling data regarding one’s income for the purposes of tax return, one normally looks at all the bank transactions to ensure that all investment income is captured for income-tax returns
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