How to Check Your TDS Status by Using Your PAN Card?
Tax Deducted at Source, or TDS under the Income Tax act of 1961, is a system of collecting taxes i... Read More »
What is Section 10AA of Income Tax Act?
Section 10AA of the Income Tax Act Section 10AA of the Income Tax Act is a special provision tha... Read More »
Section 10(10D) of the Income Tax Act: Exemptions & Example
Section 10 (10d) of the Income Tax Act Life insurance policies are mostly known for providing a ... Read More »
Cess and Surcharge – Tax Levied by Indian Government
What is CESS? The government generally collects cess to fund earmarked purposes. It cannot be us... Read More »
Difference Between Assessment Year (AY) and Financial Year (FY)
One of the most confusing aspects of the Indian taxation system is the difference between the asses... Read More »
7 Types of Income Tax Assessment Under Income Tax Act
Every financial year, as per the Income Tax Act 1961, it is mandatory for individuals who earn ab... Read More »
5 Heads of Income Under Income Tax Act
What are the Heads of Income Under the Income Tax Act? For tax computation purposes, the income ... Read More »
Income Certificate Application – Importance, Documents Required and How to Apply?
What is an Income Certificate? An income certificate is an official document issued by a state g... Read More »
Section 80EEB: Tax Benefit on Electric Vehicles
What is Section 80EEB of Income Tax Act? Under Section 80EEB of Income Tax Act, you can claim ta... Read More »
Previous Year in Income Tax, 1961 – How is it Different from Assessment Year?
What is Previous Year in Income Tax? According to the Section 3 of the Income Tax Act, the incom... Read More »
Section 115BAA of Income Tax Act: Features and Eligibility
What Is Section 115BAA of Income Tax Act? The Government of India brought in multiple amendments... Read More »
Section 79 of the Income Tax Act – Latest Amendments
The Government of India introduced Section 79 of Chapter VI of Income Tax Act Intended to curb taxp... Read More »
Differences Between Capital Receipts and Revenue Receipts
Receipts are described as written records of the amounts paid in exchange for goods or services. Bu... Read More »
What is House Rent Allowance (HRA)? – Exemptions, Deductions & Calculation
House Rent Allowance is a standard component under most salary structures in India. While it is inc... Read More »
10 Best Tax Saving SIPs in 2023 – Best ELSS Funds to Invest
Tax saving SIPs are effective investment options which enable investors to build a substantial corp... Read More »
TCS on Sale of Scrap (Section 206C): Meaning, Tax Rate, Payment And Tax Returns
The Government of India introduced TCS on the sale of scrap under Section 206C to monitor and gathe... Read More »
Public Provident Fund (PPF) – Know PPF Details and Its Benefits
In 1968, the National Savings Institute introduced the PPF scheme. The Public Provident Fund (PPF) ... Read More »
What are Capital Receipts and What are its Types?
The concept of a receipt is easy to understand as it is described as a written record that a paymen... Read More »
What is Anti-Dumping Duty (ADD) – Its Working, Examples and Calculation
Anti-dumping duty refers to a tax or other charges levied on a particular imported product. The con... Read More »
Loan to Purchase Land – Types, Features, Eligibility and Documents Required
Loans for land purchase or plot loans are secured loans given for purchasing plots of land. Borrowe... Read More »
List of 11 Tax-Free Income Sources in India (2023)
There are many sources through which a person can earn his/her income. It can be income from salary... Read More »
New GST Rates in India (2023) – Latest Changes in GST Rates
GST or the Goods and Services Tax is one of the most significant tax reforms to be ushered in since... Read More »
What is Input Tax Credit (ITC) in GST – Eligibility and Documents Required To Claim ITC
GST is consumption-based taxation levied at all stages in a value chain. Set-off of GST paid in the... Read More »
What is Section 80GGA: Deductions on Donations Made for Rural Development
Income Tax Act provides several opportunities for taxpayers to claim partial or full deductions. Se... Read More »