admin's blog
Tax exemption under section 80g
Fri, 12/02/2022 - 20:23 — adminA tax deduction under section 80g of income tax act is available for some contributions or donations. To be eligible for these certificates, NGOs and other non-profit organisations must register and be approved by the Income Tax Department.
Deduction under section 80g of the income tax act
Fri, 12/02/2022 - 20:20 — adminFor amounts paid by the taxpayer as a contribution to any fund, institution, or charity Trust, a deduction under section 80g of income tax is permitted. Under the Income Tax Act, not all gifts are handled similarly. Donations to specific organisations and funds are eligible for 100% or 50% of the donation as a tax deduction, with no upper limit. However, depending on the qualifying amount, certain gifts are eligible for 100% or 50% deductions.
Double taxation relief of registration
Wed, 10/23/2013 - 10:42 — adminThe Central Government may enter into concurrence with the Government of any nation outside India or a specified region outside India.
Transfer of income where there is no transfer of assets
Wed, 10/23/2013 - 10:35 — adminAll salary going out to an individual by the goodness of an exchange of tax deduction should(if there is no exchange of the holdings from which the wage goes out) be chargeable for pay to assess as the salary of the transferor and ought to be incorporated in his aggregate salary.
Power to take evidence on oath
Thu, 02/07/2013 - 19:00 — adminFor the objectives of this Act, the Assessing Officer, Asset value Officer, Deputy Commissioner (Appeals), Commissioner (Appeals), Chief Commissioner, or Commissioner, as well as the Appellate Tribunal, shall have the same powers as those granted to a court under the Code of Civil Procedure, 1908 (5 of 1908), when trying a suit pertaining to the following matters, namely:-
Conditions for sections 11 and 12's applicability
Mon, 12/17/2012 - 14:53 — adminIf any of the following requirements are not met, the provisions of sections 11 and 12 will not be applicable to any trust or institution's income:-
Profits chargeable to tax
Sat, 12/15/2012 - 13:38 — adminWhen a loss, expense, or trade responsibility incurred by the taxpayer and afterwards during any prior year has been taken into account in the assessment for any year:-
Transfer of property act, 1882
Sat, 12/15/2012 - 11:50 — adminCommencement
Beginning on July 1st, 1882, it shall go into effect.
Extent
Deduction for donations made to certain charities, funds etc.
Fri, 12/14/2012 - 14:36 — adminYou can browse the important URL at 80g certificate.
According to and subject to the requirements of this section, the following must be subtracted from the assessee's total income:-
Income tax from house property
Thu, 12/13/2012 - 13:21 — adminThe Income Tax Act of 1961 states that income derived from real estate is taxable.