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Income tax on partnership income

Are you in partnership? Are you generating good income from partnership business? That’s great. Here I present rules for income tax on partnership income. How to calculate income tax on partnership income?   To calculate and understand income tax provisions for partnership income, we can divide partnership income in following parts: Share from partnership

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tax on mutual funds investments in India

  Mutual fund is useful way for saving and generation of income. If you are investing, you like to know rules for tax on mutual funds. Tax on mutual funds: We can divide mutual fund in two categories: Equity oriented mutual fund Non equity oriented mutual fund we can also divide capital gain in

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TDS on contractors under section 194C

TDS u/s 194C (TDS on contractor) While paying to contractor, you should remember provision for TDS on contractor u/s 194C of income tax act. The provision guides to deduct TDS when there is payment exceeding minimum limit of section 194C. What is work contract for section 194C? advertising broadcasting carriage of goods and passengers

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wealth tax calculation ultimate guide

Wealth tax is levied on properties which are not used by owners. Wealth tax should be paid annually. Wealth tax calculation is based on valuation rules of assets in wealth tax act. How to do wealth tax calculation? Basic thing is that which asset is taxable under wealth tax act. Read my post. Wealth

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