Income Tax

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Claim your depreciation on office premises

Even if you claim depreciation office premises, still you are entitled for long term capital gains – Tribunal By Vimal Punmiya, Chartered Accountant OPINION Querist………………………………………. M/s. PRASHANT CORPORATION The Querist is a Partnership firm, Registered in Mumbai, The firm is involved in business of... (Continue reading)

RECENT JUDGEMENT & CONTROVERSIAL ISSUES ON CAPITAL GAINS TAX

RECENT JUDGEMENT & CONTROVERSIAL ISSUES ON CAPITAL GAINS TAX. By, Vimal C.Punmiya. CHARTERED ACCOUNTANT. The Sections particularly relating to the Computation of Income from Capital Gains deals from Section 45 to 55A under Chapter IV E of the Income Tax Act, 1961. The... (Continue reading)

Income Tax Exemptions

HOW TO AVAIL OF MAXIMUM BENEFIT U/S 80-IB (10) THE INCOME TAX ACT. [ In respect of undertaking(s) engaged in the development and construction of Housing Projects(s)] By Vimal Punmiya (CA) Posted on 15th May 2002 Recently, I was approached by a Builder Group... (Continue reading)

Court Judgments on Income Tax related with property

Court Judgments on Income Tax related with property NON – Taxability of surrender of tenancy rights prior to 1-4-94 Gist of recent judgments – 9th March 2000 Compulsory acquisition of immovable properties by Government of India under Chapter XXC of Income Tax... (Continue reading)

Income Tax Deduction for Housing Finance

By S.K. Agarwal Q. Who can claim deduction for interest on housing loan ? A. A person may claim deduction from income (under the head “house property”) for interest payable in India on housing loan, if such loan is taken for acquiring,... (Continue reading)

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