Income Tax Articles

In this hi-tech, age business has undergone major transformation and new methods of transactions have evolved which are fast paced and require little physical effort. Out of many one is the concept of OIDAR services which are provided through internet and received by the recipient online without phy..

As per provisions of Section 40A(3) Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, [or use of electronic clearing system through a ..

What is TDS? TDS stands for Tax Deduction At Source. It means that when an Individual/Organization/persons making the specified payment which are mentioned under Income Tax Act, 1961 to another person than that Person (who is making the payment) has to deduct the TDS when the amount of the paymen..

Nowadays people are discussing about a news that no income tax is required upto Rs. 5 lakh. Even some people think that they do not need to file income tax return if their Total Income is below 5 lakh. But the fact is this kind of statements are not really true. Most of the people think that tax fre..

.style2 { font-weight: bold; } In order to incentivize the equity markets Government has given various sops to this sector. Under Section 10(38) of Income Tax Act, exemption to long term capital gains arising from sale of equity shares in a company or unit of an equity oriented f..

Ever wondered, when Virat Kohli hits centuries on cricket grounds situated outside India, which country shall have right to tax his income arising from such play? Or when the audience outside India gets Goosebumps listening to the voice of Arijit Singh, how the said income shall be taxed? The tax..

Sometimes you may have received a portion of your salary in arrears or in advance, or you may have received a portion of your family pension in arrears or in advance. Do you think? Will it be fully taxable in the year of receipt at the higher rates or is there any relief available on it? Yes! The..

The Employee Provident Fund (EPF) is an investment and more beneficial scheme enacted by the Government in the common interest of employees. In this scheme, the employer and employee, both are required to contribute an amount which is calculated on the basic wages, dearness allowance and retaining..

Transfer pricing provisions seek to ensure that there is fair and equitable allocation of taxable profits amongst the tax jurisdictions. In cases where the underlying transaction is held not to be at arm's length, a primary adjustment is made to align the transfer price with the arm's length price (..

This article contains various Compliance requirements under Statutory Laws. Compliance means 'adhering to rules and regulations.' Compliances under: 1. Compliance Requirement Under Income Tax Act, 1961 2. Compliance Requirement Under Goods & Services Act, (GST) 2017 3. Compli..