Income Tax

What is Profit After Tax and How is it Calculated? Why is it Important for Companies?

An essential step for all organisations is to ensure that they continuously monitor the amounts of ... Read More »

Income Tax

What is Accounting Equation – Meaning, Formula and Calculation with Example

Regardless of the size of the company, financial statements are created using a basic accounting eq... Read More »

Income Tax

Cost Inflation Index: What is CII and How is it Calculated?

The price of commodities rises over time, reducing the purchasing power of money, which is the numb... Read More »

Income Tax

What is White-Collar Crime and What is the Penalty?

White shirts, black coats and well-ironed ties are typical stereotypes representing the rich and el... Read More »

Income Tax

Form 12B – Its Significance in Income Tax and How to fill it

When you join a new company in the middle of a financial year, you must complete several formalitie... Read More »

Income Tax

What is Cash Memo, Its Benefits and How to Create It?

All transactions in accounting must have accurate documentation as proof of financial trail. Docume... Read More »

Income Tax

What is Condonation of Delay in Law? What are its General Principles?

As per the Indian law, there is a certain time frame to submit all forms and applications to the Re... Read More »

Income Tax

Foreign Exchange Management Act (FEMA): Its Regulations and Penalties

Import and export are essential components of the aggregate trade that occurs in India. Import-expo... Read More »

Income Tax

What is Withholding Tax? What are its Rates? How is it Different from TDS?

The Central government of India levies income tax, a type of direct tax, on the income of individua... Read More »

Income Tax

Section 115BAA: Provisions for New Tax Rate for Domestic Companies

The Government of India brought in multiple amendments to the Income Tax Act of 1961 through the Ta... Read More »

Income Tax

TDS on Salary – Calculation, Rules and How Reduce Deduction?

If you check your salary slip, you will find a segment that mentions TDS deduction. TDS on salary v... Read More »

Income Tax

Gross Salary: Meaning, Components and Calculation with Examples

Gross income denotes the total earnings without any deductions or tax adjustments. For salaried ind... Read More »

Income Tax

What is Deferred Tax? How is it Calculated?

For accounting purposes, a company prepares two financial reports or statements for every financial... Read More »

Income Tax

Regressive Tax – Types and Working with Examples

Regressive tax implies a system where the tax rate goes down as the taxable income increases. Thatâ... Read More »

Income Tax

Tax Benefits under Section 80CCD(1B) of Income Tax Act

Many salaried and non-salaried people invest in the National Pension Scheme or NPS to secure their ... Read More »

Income Tax

Section 148 of Income Tax Act

Have you recently received a notice from the Income Tax Department stating that your previously fil... Read More »

Income Tax

Relief under Section 89 of Income Tax Act

When taxpayers receive any part of their salary in advance or in arrears, they can claim relief und... Read More »

Income Tax

What is Public Finance and its Components & Functions

Public funds play a significant role in the growth and development of a country. Public funds, if m... Read More »

Income Tax

What is Tax Incidence and How is it Calculated?

Tax incidence helps to understand how the tax burden is shared between producers and consumers or b... Read More »

Income Tax

Section 115BA of Income Tax Act: Meaning And Eligibility

Are you planning to set up a manufacturing business?  While market research and coming up w... Read More »

Income Tax

Supply Under GST: Meaning, Scope, Types and Taxability

To deal with the multi-faceted indirect tax policies, the Indian government introduced the Goods an... Read More »

Income Tax

Who is Considered as Income Tax Assessee Under the Income Tax Act?

An income tax assessee is someone who needs to pay taxes or any sum of money to the gover... Read More »

Income Tax

Net Operating Income (NOI): Formula and Calculation with Examples

Analysing investment opportunities and asset performance helps you in making informed investment de... Read More »

Income Tax

PF Withdrawal Rules and How to Withdraw PF Amount Online

In case of an emergency, you may need to withdraw the PF amount. PF or Provident Fund is a benefit-... Read More »