Sections 54 54F and 54EC of Income Tax Act Exemptions in respect of LTCG

The amount of long term capital gain arising from sell of long term capital assets like house property is very large. Such gains are taxed at 20% as long term capital gain tax. The tax amount payable in such cases comes up to be very high. In order to provide relief to the tax payers, the Government of India has come up with certain exemptions from Long Term Capital Gain under section 54, 54EC and 54F. Let us understand these sections into detail:



Are Accountants Better than Accounting Software

Continuing our series on the relevance of accounting professionals for small and emerging businesses, we wish to shed more light at the trends impacting the overall community of ‘financial pillars’ of the Indian economy.

Not so long ago, very few, on-premise, legacy software were available for companies to facilitate complex accounting practices. Today, there is an endless list of accounting software for companies of all sizes and even individuals to use as per their convenience. A short after the demonetization our country, the government was alerted by the severe shortage of accountants and accounting jobs. With the onslaught of accounting software, it did seem that, very soon autobots or even Siri or Alexa may be readily dispensing investment suggestions over digital devices.


Accountants Play a Crucial Role for Indian Startups 1

Accounting and business goes hand in hand. And with the booming startup scenario in India, the scope and role of accounting has been redefined with the growing number of employment opportunities and emergence of new, sustainable goals for business collaborations.

Today’s expanding community of crowd-funded startups in India is largely dependent on the technological and accounting framework for long term success. Besides, they are also under great pressure to push the millennial, Indian businesses at the global front row. This strong start-up culture has amplified the need to hand over the reins of complex business and financial operations to young and dynamic accounting professionals.


Got Questions about

Leave Travel Allowance aka LTA is a type of allowance provided by an employer to an employee in the form of reimbursement of travelling expenses. Such travelling expenses reimbursed by employer forms part of total salary of the employee. However, an employee can claim tax exemption from such LTA received from an employer. In this article, we have covered most frequently asked questions regarding LTA.



Business enterprises, be it big or small, need substantial support to keep their accounting practices accurate, effective, responsive and relevant. For this, companies and individuals have experimented with a wide number of methods that include legacy accounting software to cloud-based solutions and even the much recent AI tools. Today, the solution providers have flooded the market with an array of software tools to address every kind of accounting need and process. But, before implementing a solution, it is essential to take note of various factors like implementation and operation cost, work volume, efficiency, security, reliability and profitability that govern your selection.


Major Decisions and Announcements of 25th GST Council Meeting

Ever since GST is introduced, the government has made many changes into the law with a view to respond to industry demand as well as for making GST more suitable in terms of compliance and ease of doing business. All such key decisions are taken during the GST Council meetings held from time to time. The 25th and the latest GST Council meeting was held on January 18, 2018 at Vigyan Bhavan New Delhi. Below are the key highlights of the decisions taken by GST council meeting.

Financial Management