Equipment used by a freelancer for the purpose of their work is generally termed as capital assets. Laptops, for instance, are capital assets. Buying a laptop is considered as an... Read More
Author: aryanshah
Any revenue derived from agricultural land is known as agricultural income and has been exempted from taxation as per the Income Tax Act. Lets see why. More than half of... Read More
Traditionally in India, it has been the male member who opts for life insurance as the sole breadwinner for the family. However, with more women joining the workforce and more... Read More
Section 10(10D) of the Income Tax Act, 1961, lays down rules for taxation of life insurance policy proceeds received on maturity or death of the policyholder. Generally, death and maturity... Read More
The word “rebate” literally means “refund”. Hence Income tax rebate is the refund on taxes if the taxpayer has paid more than the taxable amount. To claim income tax refund,... Read More