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Acquisition of business assets by way of gift or inheritance

By Taxwink Team | 17 Jun,2020

Acquisition of business asset by way of gift or inheritance [Explanation-2 to section-43(1)] Where any....

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....

Girraj Bansal V. ACIT(DEL-ITAT) 2020 ITL 97 [ITA No 2002/Del/2017]

By Taxwink Team | 12 Jun,2020

Addition on the basis of unregistered sale agreement found at search at third party premises on presumption ba....

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