A Step-By-Step Guide On How To File ITR-7 Form
If you run a religious or charitable organisation, you need to report any income from such entities... Read More »
How to Get Tax Benefits on Tuition Fees for Your Children?
Section 80C is one of the most common deductions for taxpayers in India. Individuals can claim tax ... Read More »
Section 92CD Of The Income Tax Act: A Comprehensive Guide
The Finance Act 2012 introduced the concept of Advance Pricing Agreement (APA) with Section 92CC an... Read More »
Breaking Down Section 281 Of The Income Tax Act
When an assessee in India gives away or creates a charge on their business assets, they need to obt... Read More »
Penalty And Interest For Late Payment of TDS
To increase the efficiency of the tax collection system, the government allows certain entities to ... Read More »
Progressive Tax: Meaning, Types and Benefits
Taxation is crucial for nation-building and development. But considering a taxpayer’s ability to ... Read More »
How To Calculate Taxable Income?
Income tax refers to a tax that individuals pay on their income. The government imposes an income t... Read More »
Income Tax Appellate Tribunal: Functions, Procedure To File An Appeal And More
After tribunalisation in India emerged, the Government of India constituted a body, the ITAT, on Ja... Read More »
Section 270A of the Income Tax Act: Penalties For Misreporting Or Underreporting Taxable Income
Section 271(1c), which imposed a penalty on concealing information or furnishing incorrect tax retu... Read More »
Section 139 of the Income Tax Act: Provisions For Filing Different Types Of Returns
Anyone earning an income regardless of the sources is liable to pay income taxes as per the Income ... Read More »
A Step-By-Step Guide to File ITR-6
The Income Tax Act 1961 requires every company to file their income tax return by the end of the fi... Read More »
How To Download ITR-V Acknowledgement?
ITR-V is a single-page document that taxpayers, who file ITR without using a digital signature, can... Read More »
Income Tax Changes in Union Budget 2022
Even though there was no announcement regarding changes in the income tax slab for Union Budget 202... Read More »
Online Tax Accounting System (OLTAS) TDS Challan Status Enquiry
OLTAS (Online Tax Accounting System) is a method for online reporting, accounting and collection of... Read More »
ITR-5 Form: Format, Filing Process And More
ITR-5 Form is an income tax return form that is applicable for investment funds, business trusts, e... Read More »
BDO Income Certificate: Application Process & How to Check Status?
The BDO income certificate is an official statement issued by the Government of West Beng... Read More »
Tax Deduction At Source Under Goods And Services Tax
GST (Goods and Services Tax) comprises three primary tax components, namely IGST, SGST and CGST. Un... Read More »
Tax Deduction at Source Vs Tax Collected at Source: Meaning, Rates and More
There are both direct and indirect taxes that the government levies on goods and services. These se... Read More »
Section 11 of Income Tax Act: Tax Discounts from Property Owned by Charitable Organisations
The Government of India provides hefty tax discounts on income from a property held for religious p... Read More »
Section 35AD of the Income Tax Act: Eligibility, Specified Business & Deductions
The Government of India has recognised certain business sectors that are crucial for the country’... Read More »
Tax Saving Fixed Deposit in India: Deductions Under Section 80C
Tax-saver FDs are fixed deposits that offer tax deductions through Section 80C of the Income Tax Ac... Read More »
Section 32 of the Income Tax Act: Tax Benefits On Depreciation Of Assets
Section 32 of the Income Tax Act and Rule 5 of the Income Tax Rules deal with the tax benefits on t... Read More »
Section 206AA of the Income Tax Act: TDS Rates & Applicability
Many transactions and payments between taxpayers involve deduction of TDS (Tax deducted at source) ... Read More »
Section 92E of the Income Tax Act: Meaning, About & Applicability
The Finance Act, 2001 introduced transfer pricing regulations in India by inserting new Sections (9... Read More »