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Income Tax Articles


Presumption of constructive notice concerning Transfer of Property Act, 1882

  FCS Deepak Pratap Singh    30 July 2022 at 08:47

Section 3 of the Transfer of Property Act, 1882 asserts under what circumstances a person is said to have a knowledge of fact or notice. Notice is mentioned in section 39, 40, 41, 53 and 53(A) of the Transfer of Property Act.



Attention: ITR Due Date may not be extended, File ITR before 31st July 2022 to avoid late fees of 1000/5000

  CA Umesh Sharma    29 July 2022 at 09:00

The Due Dates for all Individuals, HUF's and Firms who are not required to audit their books of accounts, company assessee, LLP's assessee, etc. are required to file their Income Tax Return before 31st July,2022. So this is the last week to file Income Tax Return.



Cases of Compulsory Scrutiny of Income Tax!

  CA Umesh Sharma    28 July 2022 at 17:44

CBDT has provided Guidelines for compulsory selection of returns for Complete Scrutiny for FY 2022-23. Also, procedure for compulsory selection has also been provided in the guidelines provided by CBDT.



Cryptocurrencies and Taxation thereof under Indian Income Tax Act, 1961

  Adv. Ravish Bhatt, ADIT, CIOT    28 July 2022 at 12:34

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.



Practical point of views on Sec 44AD deemed profit vs Actual Profit

  Akhil Pachori    28 July 2022 at 08:56

Practical Point of View in cases where Income is higher than 8%, but the person is declaring deemed profit as income u/s 44AD



5 Consequences Of Not Filing Your Income Tax Return

  Shruti    28 July 2022 at 08:56

You may be thinking to yourself, "Why should I be concerned about filing my taxes? After all, I don't owe anyone anything. " Well, let me tell you, there are many consequences of not filing an income tax return that can have a huge impact on your life. Here are 5 of them!



Understanding What is HRA: Details & Calculation Process

  Niyati    26 July 2022 at 14:32

HRA is essentially a part of your salary and is tax exempted under section 10 (13A). In other words, HRA is an allowance given by your employer to pay for your accommodation. You are entitled to claim this allowance even if your employer doesn't pay an HRA or if you're self-employed.



CBDT released FAQs on AIS

  Shree    25 July 2022 at 14:44

FAQs on Annual Information Statement (AIS)



Basics of international taxation

  Venkat Raj    23 July 2022 at 08:37

As businesses are no longer confined to local territories and willing to expand overseas and overseas investors also want to invest in India the scope of international taxation has enormously expanded. International taxation has seen huge changes in a decade of time.



Benefits of National Pension Scheme (NPS)

  Taxblock    19 July 2022 at 08:44

The National Pension Scheme is a national social security initiative launched by the Central Government with a motive to encourage many salaried employees to invest a small amount of money in their pension account during their course of employment. After retirement, the subscribers can take out a certain percentage of money as a monthly pension.