Delhi, India’s bustling capital, is a prime location for entrepreneurs aiming to establish their businesses. With its robust infrastructure, favorable policies, and a thriving startup ecosystem, registering a company here offers numerous advantages. This comprehensive guide provides step-by-step instructions, cost breakdowns, required documents, and expert tips to ensure a smooth registration process. Why Register a […]
Income Tax Calculator Income Tax Calculator Total Annual Income (₹): Deductions under Section 80C (₹): LIC Premium: PPF (Public Provident Fund): NSC (National Savings Certificate): ELSS (Equity Linked Savings Scheme): Senior Citizens Savings Scheme: Deductions under Section 80D (₹): Health Insurance Premium (Self): Health Insurance Premium (Family): Health Insurance Premium (Senior Citizens): Home Loan Interest
The Union Budget is one of the most anticipated events in India’s fiscal calendar, and it plays a crucial role in shaping the nation’s economy. This page will provide all the essential details you need to know about the Union Budget 2025, including the date, time, and other important information. Union Budget 2025: Date &
Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act The provisions of Chapter XV of the Income-tax Act relating to liability in special cases and of section 189 of that Act or of Chapter V of the Wealth-tax Act, 1957 (27 of 1957) relating to liability to assessment in special
Exemption from wealth-tax in respect of assets specified in declaration (1) Where the undisclosed asset located outside India is represented by cash (including bank deposits), bullion or any other assets specified in the declaration made under section 59— (a) in respect of which the declarant has failed to furnish a return under section 14 of
Declaration by misrepresentation of facts to be void Notwithstanding anything contained in this Chapter, where a declaration has been made by misrepresentation or suppression of facts, such declaration shall be void and shall be deemed never to have been made under this Chapter.
Declaration not admissible in evidence against declarant. Notwithstanding anything contained in any other law for the time being in force, nothing contained in any declaration made under section 59 shall be admissible in evidence against the declarant for the purpose of any proceeding relating to imposition of penalty, other than the penalty leviable under section
Tax in respect of voluntarily disclosed asset not refundable. Any amount of tax paid under section 60 or penalty paid under section 61 in pursuance of a declaration made under section 59 shall not be refundable.
Undisclosed foreign asset declared not to affect finality of completed assessments The declarant shall not be entitled, in respect of undisclosed asset located outside India declared or any amount of tax paid thereon, to reopen any assessment or reassessment made under the Income-tax Act or the Wealth-tax Act, 1957 (27 of 1957) or claim any
Undisclosed foreign asset declared not to be included in total income The amount of undisclosed investment in an asset located outside India declared in accordance with section 59 shall not be included in the total income of the declarant for any assessment year under the Income-tax Act, if the declarant makes the payment of tax
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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9971782649
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