Capital Gains Account Scheme (CGAS) for Claiming Tax Exemptions
Capital Gains Account Scheme (CGAS), introduced by the GOI in 1988 helps to claim tax exemption on ... Read More »
Income Tax Slabs In India For FY 2022-23 – Rates, New and Old Tax Regime
Any reforms in income tax or income tax slabs are announced by the Finance Minister of India, usual... Read More »
Section 80G Of Income Tax Act – Its Provisions, Contributions Eligible and How to Claim
Section 80G of Income Tax Act, 1961, allows an income tax deduction for donations made to charities... Read More »
What is Tax Collected at Source (TCS): Rates, How to Pay and Due Date
To streamline the taxation system in India and make it more efficient, the Income Tax Department ha... Read More »
Unabsorbed Depreciation Under Section 32(2) Of The Income Tax Act
In a financial year, it is possible that an assessee does not have sufficient profits to cover the ... Read More »
What is Lease Agreement – What Owners and Occupants Must Know
A lease is a contract where one party grants a right to use a property or land to another party in ... Read More »
What are Capital Gains: Calculation, Tax Exemption and Types
Individuals make investments in mutual funds and purchase various capital assets. Capital gains ari... Read More »
TDS on Dividend: Resident and Non Resident Investors
As per the Income Tax Act, 1961, dividends received from a company will be taxable for the investor... Read More »
What is Section 234B of the Income Tax Act: Interest Charged and Examples
According to Section 234B of the Income Tax Act, an interest payment could be imposed if there’s ... Read More »
What is Section 206(1H): TCS On Sale of Goods Under Finance Act
The Income Tax Act of 1961 introduced Tax Collected at Source (TCS) on the sale of goods from Octob... Read More »
Taxation of Capital Gains from Mutual Funds: Debt Funds, Equity Funds, Hybrid Funds
When you invest in a mutual fund, you can choose between a growth option and a dividend option. Und... Read More »
What are The Five Heads of Income Tax Under The Income Tax Act?
The revenue of an assessee is divided into five heads of income for easy computation and ... Read More »
What is Global Minimum Corporate Tax Rate: Countries Involved and India Status
The Organisation for Economic Cooperation and Development (OECD) initiated talks for a global minim... Read More »
Section 194M of Income Tax Act: A Guide on TDS on Payments to Resident Contractors and Professionals
The budget of 2019 introduced various modifications to the already existing income tax rules. Durin... Read More »
What is Section 50C: Taxability Details on Sale of Land and Building
As India's population is rising at an increased rate, demand for real estate is also surging. This ... Read More »
What is Corporate Tax: Rates, Fees, Tax Return Forms and Due Dates
There are different types of taxes that Indian organisations pay to the government on income, wealt... Read More »
TDS Rate Chart for Financial Year 2022-2023 (AY 2023-2024)
To minimise tax evasion and collect taxes directly from the source of income, the Income Tax Depart... Read More »
Section 9 of the Income Tax Act: Working, Subsections and Exemptions
The rising number of foreign companies and non-resident individuals has made it crucial to know who... Read More »
What is Advance Tax: Due Dates, Calculation and How to Pay it Online
Advance tax is levied on an individual who has other income sources in addition to a monthly salary... Read More »
What is Surcharge on Income Tax and How To Calculate Marginal Relief
If you are in the higher income tax bracket, you may know that you have to pay an additional tax ca... Read More »
What is Form 26Q: TDS Deduction, How to Download Online and Due Dates
An employer deducts an amount from the employees’ salary. This is known as Tax Deducted at Source... Read More »
TDS Under Section 192 of Income Tax Act: When is TDS Applicable?
According to the Income Tax Department of India, “ Section 192 of the I.T.Act, 1961 provides that... Read More »
What is Inheritance Tax – Countries, Exemptions and How to Reduce It?
Assets of a person are distributed to their heirs as per the will after they have passed away. The ... Read More »
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 »
