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I-T dept begins process of analysing deposits post demonetisation

The I-T department has begun the process to examine bank deposits and transactions to check possible black money instances and said once the last opportunity to declare funds in old notes under the PMGKY scheme ends it will be very tough for hoarders. Interacting with representatives of trade bodies, Chartered Accountants and other professionals, Principal [...]

By | January 2nd, 2017|Revenue|Comments Off on I-T dept begins process of analysing deposits post demonetisation

Old 500, 1000 rupee notes can be used for payment under PMGKY

The Income Tax department today said now-defunct Rs 500 and Rs 1,000 notes can be used till December 30 for paying tax on disclosures made under the tax evasion amnesty scheme. The government has come out with Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016, under which those with unaccounted cash [...]

By | January 2nd, 2017|Revenue|Comments Off on Old 500, 1000 rupee notes can be used for payment under PMGKY

Income Tax returns filing: Check out the 80 C tax benefits of up to Rs 1.5 lakh

As three months remain for tax-related investments, salaried individuals should look at various provisions under Section 80C of the Income Tax Act, 1961. Section 80C entitles an employee to certain deductions from the gross total income, up to a maximum limit of Rs 1.5 lakh. Investments for saving tax Investments in Public Provident Fund (PPF), [...]

By | January 1st, 2017|Revenue|Comments Off on Income Tax returns filing: Check out the 80 C tax benefits of up to Rs 1.5 lakh

Got idle money in your account? Here are 5 investment options to save tax

With 2017 just a couple of days away, it’s time to start planning your finances for the year ahead. January will be a busy month for anyone looking to save tax, with most salaried professionals scrambling to get their investment proof documents for tax savings in order. But things are a little different, this time. [...]

By | January 1st, 2017|Revenue|Comments Off on Got idle money in your account? Here are 5 investment options to save tax

What Is Power Of Attorney?

A Power of Attorney is a legal document by which one person gives the right to perform or powers of transacting in matters relating to property, banking, legal and judicial proceedings, tax payments, etc, to another person due to certain reasons like being out of country, or getting old, or not able to look after [...]

By | December 31st, 2016|Power of Attorney|Comments Off on What Is Power Of Attorney?

SC bans liquor shops on national, state highways across India

The Supreme Court today ordered a ban on all liquor shops on national as well as state highways across the country and made it clear that licenses of existing shops will not be renewed after March 31 next year. A three-judge bench headed by Chief Justice T S Thakur also directed that all signages indicating [...]

By | December 31st, 2016|Uncategorized|Comments Off on SC bans liquor shops on national, state highways across India

Protection of Tenants Against Eviction

About 42% of the urban population of the world, which are roughly 150 million households, lives as tenant. The same holds true even in India where, due to exorbitant rates of property especially in the metro cities, a majority of people live as tenants. While living as a tenant can be really comfortable, there are [...]

By | December 30th, 2016|Property/Rent|Comments Off on Protection of Tenants Against Eviction

Six things taxpayers expect from Budget 2017

Struck by the demonetisation shock, Indian economy expect some sweet surprises as it gears up to strike the 2017 calendar. Parting from the colonial-era tradition of presenting the Union Budget on the last working day of February, the government will present it on February 1. And with the new beginning comes new expectations, which are [...]

By | December 30th, 2016|Revenue|Comments Off on Six things taxpayers expect from Budget 2017

GST : ONE India ONE MARKET

Introduction The introduction of unified gods and services tax (GST) across the nation is the most important indirect tax reform since independence. It has taken almost 16 years from the date of inception of idea, formation of task force, to passage in Parliament. It represents a Herculean, nationwide, multi-party consensus- building exercise which is finally [...]

By | December 29th, 2016|Commercial Law, Revenue|Comments Off on GST : ONE India ONE MARKET

Property managers: Handling Tenant and Owner Funds

Owners entrust their property managers with more than just their physical assets. Property managers handle rental income, reserve funds, security deposits, and write checks on the owner’s behalf. To function properly, this relationship requires trust, transparency and accountability. Here's a list of issues to review and questions to ask the property management companies you interview: Payment [...]

By | December 29th, 2016|Property/Rent|Comments Off on Property managers: Handling Tenant and Owner Funds