Blog/ Income Tax

 Home / Blog

Computation of Turnover and applicability of Tax audit for F&OTransactions

Ideally when you deal in Futures and Options(F&O), the transaction size is big but profits are too small. Therefore confusion prevails that whether these transactions can be termed speculative transaction or they are business losses or profits. Further computation in case of business losses, Tax audit limit will apply on transaction value or it applies […] Read More...

HRA,Housing Loan Interest Under House Property and Capital Gains under Income Tax Act?

Introduction:Employee can claim deduction of HRA and Interest on Housing Loan to acquire house property u/s 24(b) and simultaneously (if he resides in property other than acquired) under Income Tax Act. Upon sale of said property, interest already claimed as deduction u/s 24(b) can be added to cost of property for the purpose of computing […] Read More...