Taxation Rules - My Tax Support

“Simplified Tax Guide for Composite Letting of Machinery and Property”

Composite letting of assets refers to a situation where an individual or entity lets out multiple assets together, such as a building along with machinery, furniture, or other equipment, as part of a single agreement. The Income Tax Act,

“What You Need to Know About Deemed and Actual Dividends”

Dividends represent a return on investment for shareholders, typically paid out of a company’s profits. However, under the Income Tax Act, 1961, dividends can be categorized into two types: Actual Dividends and Deemed Dividends. Understanding the distinction between these

“How to Claim Deductions on Dividend Income Under Section 57”

Under the Income Tax Act, 1961, dividend income and the interest associated with it are taxable under the head 'Income from Other Sources.' Section 57 allows taxpayers to claim specific deductions related to expenses incurred for earning such income,

“How to Handle Taxes on Employment Termination Compensation Under Section 56(2)(xi)”

In today’s dynamic professional landscape, employees may receive compensation for the termination of employment or modification of their terms of service. Such payments often raise questions about their taxability. Under the Income Tax Act, 1961, Section 56(2)(xi) governs the

“How to Handle Tax on Forfeited Advance Money in India”

The forfeiture of advance money received for the transfer of capital assets is a significant aspect of taxation under the Income Tax Act, 1961. Such forfeitures often occur when the intended transaction does not materialize, and the seller retains

“Complete Guide to Tax on Lottery and Gambling Winnings Under Section 56(2)(ib)”

Winnings from lotteries, crossword puzzles, and gambling are among the specific incomes taxable under Section 56(2)(ib) of the Income Tax Act, 1961. These incomes are taxed under the head 'Income from Other Sources,' ensuring that such casual and windfall

“Taxing Income from Other Sources: Everything You Need to Know”

The residuary head of income, known as 'Income from Other Sources,' is defined under Sections 56 to 59 of the Income Tax Act, 1961. It acts as a catch-all provision to tax income that does not fall under the

Tag: Taxation Rules

“Simplified Tax Guide for Composite Letting of Machinery and Property”

“What You Need to Know About Deemed and Actual Dividends”

“How to Claim Deductions on Dividend Income Under Section 57”

“How to Handle Taxes on Employment Termination Compensation Under Section 56(2)(xi)”

“How to Handle Tax on Forfeited Advance Money in India”

“Complete Guide to Tax on Lottery and Gambling Winnings Under Section 56(2)(ib)”

“Taxing Income from Other Sources: Everything You Need to Know”

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Tag: Taxation Rules

“Simplified Tax Guide for Composite Letting of Machinery and Property”

“What You Need to Know About Deemed and Actual Dividends”

“How to Claim Deductions on Dividend Income Under Section 57”

“How to Handle Taxes on Employment Termination Compensation Under Section 56(2)(xi)”

“How to Handle Tax on Forfeited Advance Money in India”

“Complete Guide to Tax on Lottery and Gambling Winnings Under Section 56(2)(ib)”

“Taxing Income from Other Sources: Everything You Need to Know”

Explore

Contact

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