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ASIAN STOCK MARKETS TUMBLES ON MONDAY

By Taxwink Team | 15 Jun,2020

Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of corona virus infections in....

Conversion of stock in trade into capital asset

By Taxwink Team | 14 Jun,2020

Conversion of stock in trade into asset to be used for business purposes: [Explanation-1 to Section 43(1)]....

Fair Market Value of asset under Rule-11UAB

By Taxwink Team | 14 Jun,2020

Fair Market Value of inventory under Income Tax Role of Rule-11UAB comes into play where an assessee conver....

Actual Cost for charging depreciation under Income Tax

By Taxwink Team | 14 Jun,2020

HOW TO CALCULATE “ACTUAL COST” FOR THE PURPOSE OF “BLOCK OF ASSETS” Section-43(1) o....

Written Down Value for Income Tax Purposes

By Taxwink Team | 14 Jun,2020

For the purpose of ascertaining depreciation under Income Tax Act, it is first necessary to ascertain written....

What is Block of Assets

By Taxwink Team | 14 Jun,2020

What is Block of Assets for Income Tax Block of Asset [Section-2(11)] “Block of Assets means a gro....

DEPRECIATION RATES UNDER INCOME TAX ACT (AY 2020-21 & Onwards)

By Taxwink Team | 14 Jun,2020

    Rates of depreciation as prescribed by the Income Tax Act   Blo....

Cost Inflation Index for Long Term Capital Gain

By Taxwink Team | 13 Jun,2020

COST INFLATION INDEX Cost Inflation Index (CII) is used to calculate inflation adjusted purchase cost of....

CBDT notifies Cost Inflation Index for Financial Year 2020-21 (AY 2021-22)

By Taxwink Team | 13 Jun,2020

S.O. 1879(E).—In exercise of the powers conferred by clause (v) of the Explanation to sec....

DGFT made amendments in Appendix 3 (SCOMET Items) to Schedule-2 of ITC (HS) Classification of Export and Import Items 2018

By Taxwink Team | 13 Jun,2020

The Central Government hereby makes the amendment in Appendix 3 (SCOMET Items) to Schedule- 2 of ITC (HS)....

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