A Detailed Guide on Section 35D of the Income Tax Act
Section 35D of Income Tax Act enables people to seek tax deductions for preliminary expenses. On... Read More »
What Is Section 143 (1a) Of The Income Tax Act: What To Do After Receiving a Notice Under Section 143(1a)?
Section 143(1a) intimation is notified to taxpayers when there’s a discrepancy between the income... Read More »
Section 115BAB Of The Income Tax Act: Meaning, Tax Rates, Provisions And Eligibility Criteria
The Taxation Laws (Amendment) Ordinance, passed on September 20, 2019, introduced Section 115B... Read More »
What Is Section 143 Of The Income Tax Act: Detailed Explanation On Sections 143(1),(2),(3) And Deadlines
Section 143 of the Income Tax Act is an autogenerated intimation message sent to the taxpayer if th... Read More »
Section 140A Of The Income Tax: How To Self-Assess Your Tax Amount
The Income Tax Department makes it mandatory for Indian citizens to make a self-assessment of all t... Read More »
How To Save Tax On Capital Gains Tax: Types Of Capital Gains And Tax Rates
Capital gains are an important source of income. Profit gained from selling a capital asset (jewell... Read More »
A Detailed Guide on Sources of Revenue for the Government of India
India, which boasts of a massive young population, is one of the world's fastest growing economies.... Read More »
Perquisites In Income Tax: Section 17(2) of The Income Tax Act
Perquisites are non-monetary benefits provided to an employee by the employer. These can vary depen... Read More »
Section 94A of Income Tax Act: Foreign Tax Jurisdictions
The Government of India introduced Section 94A of the Income Tax Act in 2011 to take action against... Read More »
Everything You Need To Know About Income Tax Assessing Officers
An income tax assessing officer is an individual employed by the Income Tax Department for the asse... Read More »
Section 147 of Income Tax Act: Assessment of Income Tax Returns
The Income Tax Act empowers tax authorities to decide whether the required information and income f... Read More »
TCS Under Section 206C: List of Goods & Services, Limits, Payments, Returns And Exemptions
Under Section 206C of the Income Tax Act, individuals are liable to pay indirect taxes for availing... Read More »
80C to 80U Deduction List [AY 2023-24]
Section 80 of the Income Tax Act offers a range of savings and investments that you can use to lowe... Read More »
TDS on Purchase of Property: Meaning, How to Pay Via Challan 26QB And Penalty for Non-Payment
A TDS or Tax Deducted at Source denotes the tax deducted by the payer on payment made to the recipi... Read More »
Section 40A of the Income Tax Act: Tax Deductions For Companies & Firms
Profits and gains earned by companies, partnership firms, and LLPs (Limited Liability Partnerships)... Read More »
Section 48 of Income Tax Act: Compute Taxable Income Under Capital Gains
Sale or transfer of capital assets and the resultant gains or profits from the same is allowable as... Read More »
Section 115AD of Income Tax Act: Taxation On Foreign Institutional Investors
Section 115AD of Income Tax Act specifies the taxation of income of Foreign Institutional Investors... Read More »
How To File TDS on Sale of Property: Registration, Payment Process And Penalty
TDS on sale of property means Tax Deducted at Source (TDS) on the sale of immovable property, inclu... Read More »
National Savings Certificate (NSC): Tax Benefits, Interest Rate, Eligibility and How to Encash It
NSC (full form - National Savings Certificate) is a fixed income investment scheme that offers tax ... Read More »
What Is Section 14A of the Income Tax Act: Applicability, Requirements And Rule 8D
In India, several categories of income are completely tax-free. It includes agricultural income, th... Read More »
What is Interest on Income Tax Refund: Eligibility, Calculation and Factors Affecting It
Taxpayers pay taxes to the Government of India through tax deducted at source (TDS), tax collected ... Read More »
What Is Section 45 Of Income Tax: Assessment, Calculation And How Capital Gains Are Taxed
Any gains or profits that you earn from the sale or transfer of any capital assets is referred to a... Read More »
Medical Allowance Exemption: What Every Taxpayer Must Know
As per the Income Tax Department norms, individuals are required to pay their income tax dues as pe... Read More »
Income Tax Calendar: Due Dates and TDS for AY 2022-23
The Income Tax Department notifies crucial ITR filing dates at the start of every assessment year. ... Read More »