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Income Tax
20 May 2022
An employer issues Form 16 to all their salaried employees. This document proves TDS deduction from an employee’s salary by […]
20 May 2022
Authors get a percentage of profit from the publishers upon the sale of their books. This percentage is royalty income […]
20 May 2022
The Income Tax Department traces all transactions so that they can curb black money transactions and detect all under-reported incomes. […]
19 May 2022
The Government of India aims to develop every backward region in the country irrespective of how remote it is. With […]
19 May 2022
The Income Tax Department has classified income into various 5 heads – income from salary, capital gains, house or property, […]
18 May 2022
India has seen significant growth in businesses, especially startups, over the last few years. In fact, 10% of startups are […]
18 May 2022
According to Rule 6DD of Income Tax Act, one can make cash payments of upto Rs. 10,000 only on a […]
18 May 2022
At the end of a financial year, a taxpayer has to check if there is any pending tax which should […]
18 May 2022
The National Pension Scheme was launched by the government in 2004 and has been one of the most preferred post-retirement […]
18 May 2022
Section 250 of the Income Tax Act, 1961, talks about the procedure in appeal by a person denying liability of […]
18 May 2022
Section 35D of Income Tax Act enables people to seek tax deductions for preliminary expenses. One can seek tax deductions […]
17 May 2022
Section 143(1a) intimation is notified to taxpayers when there’s a discrepancy between the income and data entered while filing for […]
17 May 2022
The Taxation Laws (Amendment) Ordinance, passed on September 20, 2019, introduced Section 115BAB of the Income Tax Act. As per Section 115BAB, […]
17 May 2022
Section 143 of the Income Tax Act is an autogenerated intimation message sent to the taxpayer if there are any […]
17 May 2022
The Government of India introduced Section 79 of Chapter VI of Income Tax Act Intended to curb taxpayers’ intention to […]
17 May 2022
The Income Tax Department makes it mandatory for Indian citizens to make a self-assessment of all their incomes and the […]
17 May 2022
Capital gains are an important source of income. Profit gained from selling a capital asset (jewellery, land, house, etc.) is […]
17 May 2022
India, which boasts of a massive young population, is one of the world’s fastest growing economies. Experts have predicted a […]
17 May 2022
Perquisites are non-monetary benefits provided to an employee by the employer. These can vary depending on an employee’s position in […]
17 May 2022
‘Previous Year’ in the Income Tax Act, 1961 is an important concept associated with the payment of income tax in […]
17 May 2022
The Government of India introduced Section 94A of the Income Tax Act in 2011 to take action against taxpayers if […]
16 May 2022
An income tax assessing officer is an individual employed by the Income Tax Department for the assessment of income tax […]
16 May 2022
The Income Tax Act empowers tax authorities to decide whether the required information and income furnished by a taxpayer is […]
16 May 2022
Under Section 206C of the Income Tax Act, individuals are liable to pay indirect taxes for availing of services or […]
16 May 2022
Section 80 of the Income Tax Act offers a range of savings and investments that you can use to lower […]
9 May 2022
A TDS or Tax Deducted at Source denotes the tax deducted by the payer on payment made to the recipient. […]
5 May 2022
The Government of India introduced TCS on the sale of scrap under Section 206C to monitor and gather information on […]
5 May 2022
It is compulsory for property buyers in the Capital to pay stamp duty in Delhi during property registration. This is […]
4 May 2022
Profits and gains earned by companies, partnership firms, and LLPs (Limited Liability Partnerships) in India are subject to income tax. […]
4 May 2022
Sale or transfer of capital assets and the resultant gains or profits from the same is allowable as income under […]
4 May 2022
Section 115AD of Income Tax Act specifies the taxation of income of Foreign Institutional Investors. Such income can be in […]
4 May 2022
There are many sources through which a person can earn his/her income. It can be income from salary, business, gift, […]
4 May 2022
Individuals exchange gifts as a part of a celebration or during significant events. One gives gifts as a show of […]
2 May 2022
TDS on sale of property means Tax Deducted at Source (TDS) on the sale of immovable property, including a building, […]
2 May 2022
NSC (National Savings Certificate) is a fixed income investment scheme that offers tax benefits up to Rs. 1.5 lakh under […]
2 May 2022
In India, several categories of income are completely tax-free. It includes agricultural income, the income of charitable institutions, etc. Taxpayers […]
2 May 2022
Taxpayers pay taxes to the Government of India through tax deducted at source (TDS), tax collected at source (TCS), self-assessment […]
2 May 2022
Any gains or profits that you earn from the sale or transfer of any capital assets is referred to as […]
28 April 2022
As per the Income Tax Department norms, individuals are required to pay their income tax dues as per the tax […]
28 April 2022
If you are going to file income tax, you will come across terms like cess and surcharge. These are both […]
28 April 2022
The Income Tax Department notifies crucial ITR filing dates at the start of every assessment year. The due dates for […]
28 April 2022
A dividend is a return on investment or profits earned by domestic companies in a given financial year. Dividend Distribution […]
27 April 2022
Are you planning to rent out a vacant house of yours? Did you know that the rent you will receive […]
26 April 2022
As per Section 285BA of Income Tax Act, certain specified government agencies and other entities are obligated to present a […]
26 April 2022
Individuals need to stay informed about their residential status for the previous year during income tax filing. The taxability of […]
26 April 2022
Double Taxation Avoidance Agreement is the full form of DTAA. It is an agreement between two or more countries which […]
26 April 2022
The Income Tax Act, 1961 allows several deductions for taxpayers which help them to manage their tax liability better. Section […]
26 April 2022
The Pimpri-Chinchwad Municipal Corporation or PCMC is a constitutional body established in 1982 with the objective of property tax management. […]
26 April 2022
Taxpayers can reduce their tax liability through the rebate under Section 87A of the Income Tax Act. Individuals can claim […]
25 April 2022
Income Tax Act provides several opportunities for taxpayers to claim partial or full deductions. Section 80GGA of Income Tax Act […]
25 April 2022
On account of excessive tax payments during a financial year, taxpayers are eligible to receive a tax refund. In simple […]
25 April 2022
The Income Tax Act allows taxpayers to file ITR even after one has missed the due dates. In such a […]
25 April 2022
If you own a flat, building, shop or any other property in Chennai, you are liable to pay property tax […]
25 April 2022
Section 111A of the Income Tax Act deals with taxation rules for short-term capital gains. The profits generated from investments […]
25 April 2022
Standard deduction was introduced in 1974 to establish parity between self-employed and salaried professionals. Several tax benefits were already available […]
22 April 2022
If tax deductor fails to submit or file TDS (Tax Deducted at Source) or TCS (Tax Collected at Source) statement […]
22 April 2022
Section 28 of the Income Tax Act up till Section 44, all cover taxation on profits and gains of business/profession. This post […]
21 April 2022
If you are planning to open a religious trust or charitable organisation, you must consider other factors besides financial obligations. […]
21 April 2022
According to Section 195 of the Income Tax Act, when an assessee or remitter makes a taxable payment to a […]
21 April 2022
Assesses wanting to avail the facility of nil or low rates of TDS on certain payments received by them can […]