Taxation as per Residential Status in India

Residential Status is very important for determining taxability in India. Provision related to residential status is in Section of Income Tax Act, 1962....

Repurchase Options (Repo.) and Ready Forward contracts

These are purchase and repurchase agreements used by money market participants to finance their loans. Such transaction when viewed from the point of view...

Restriction on cash transactions under Income tax act, 1961

After the demonetization, Government has earned an important lesson. Keeping the rhetoric aside, it's enlightened to the wisdom of colours in money. Notes of...

Know Maths in Money Market Operations

Money Market is an important ingredient for growth and development of an economy. India too is no exception for it. With the fastest growing...

Provisions related to advance rulings under Income Tax Act, 1961

Chapter XIX-B consists of sections related to Advance Rulings. Section 245N to 245V provide a scheme for giving advance rulings. These rulings are for...

Know about TDS for Interest on Securities [Section 193]

Interest on Securities is taxable in India. Further, Section 193 of the Income Tax Act, 1961 provides for Tax Deduction at Source. This section...

How to Reset Login of Income Tax E-filing Website

It may be very often that you forget your password for Income Tax E-filing Website. Since it is needed only a few times a...

What is Money Market

Financial system of any country consists on different sub-markets as money, capital and forex markets. The flow of funds in these markets is multi-directional...

Applicability of GST with reference to Model GST Law

With 1st July nearing, everyone is preparing for new pan India Indirect tax – Goods and Service Tax (GST). Suddenly, Experts are seen on...

TDS on Winnings from Lotteries, crossword puzzles and horse races [Sections 194B and 194BB]

Any income from winnings from lotteries, crossword puzzles, card games and other game of any short, races including horse races, etc., is chargeable to...