Income Tax Articles

Challan 280: Auto Fill Income Tax Challan 280 in Excel for offline user

Pranab Banerjee 09 May 2023 at 08:58

Challan 280 is a form used to pay income tax; Payments can be made both online and offline. It is mainly used to pay advance tax, self-assessment tax, regular liquidation tax, surcharge, internal business distributed profit tax and participant distributed income tax.

Income Tax on Non-Resident Indians who sell House Property in INDIA

Affluence Advisory 09 May 2023 at 08:58

Capital Gains Tax applies if Non-Residents sell any House Property in India. The Tax is payable on gains depending on whether it is Long Term Capital Gains or Short Term Capital Gains.

Who is required to file ITR?

Affluence Advisory 08 May 2023 at 08:44

Income Tax return filing is mandatory if the Total Income of an Individual exceeds the maximum amount which is not chargeable to income-tax i.e Rs. 2,50,000 for individuals whose age is less than 60 Years.

Practical Guide to Dealing with a notice for Reopening of Assessment Proceedings under IT Act 1961

Adv. Ravish Bhatt, ADIT, CIOT 06 May 2023 at 15:15

Reopening of an assessment concluded under section 143(1) or even under section 143(3) (Scrutiny Assessment) of Income Tax Act, 1961 is a dreaded nightmare of any assessee.

Changes in the New Tax Regime: Everything you need to know

Pranab Banerjee 06 May 2023 at 08:50

A new tax regime has been introduced through the Union Budget 2020. In this tax regime, the income tax rates are lower and if a person opts for this regime, he will have to lose most of the benefits.

Taxation Of Alternate Accommodation - Simplified

Affluence Advisory 05 May 2023 at 08:46

Redevelopment refers to the process of reconstruction of the premises by demolition of the existing structure and construction of new structure in its place. This is done by utilizing the potential of the land by exploiting additional TDR, higher FSI, etc.

Retrospective applicability of Sec 153C "2015 amendment" as held by Supreme Court

CA.Mohit Gupta 02 May 2023 at 09:35

The Supreme Court held that the amendment brought to Section 153C of the Income Tax Act 1961 by the Finance Act 2015 will retrospectively apply to searches conducted prior to the date of the amendment, i.e., 01.06.2015.

ITR Forms under Income Tax Act 1961

Divyanshu Sharma 29 April 2023 at 14:51

Let's understand all types of ITR forms in detail.

Section 9: Income Deemed To Accrue/Arise In India In The Hands Of Non-Resident

Geetanjali Pandey 29 April 2023 at 10:10

This area is a complicated one which needs to be understood wisely and carefully while calculating the Total Taxable income of Non-resident.

Important concept and provisions relating to the taxability of non-resident

Geetanjali Pandey 28 April 2023 at 16:01

Under this Article, I would like to draw attention toward those major areas which is the basic/initial point of determining the taxability of Non-resident in India. Once we checked these filters one by one on Non-resident, we can get clear picture about the taxability of Non-resident.