Income Tax Articles

Choose Right Tax Regime for FY 2023-24

Affluence Advisory 22 April 2023 at 14:52

If you FAIL to choose between the New and Old Tax Regime, the Employer will take the New Tax Regime as DEFAULT and deduct TDS under it.

Section 194DA: TDS on Payment of Life Insurance Policy

CA Ruby Bansal 22 April 2023 at 14:37

Section 194D of the Income Tax Act requires tax to be deducted at source on any commission or reward paid for procuring insurance business.

Akshaya Tritiya 2023: What to Keep in Mind Before Investing in Gold

Rashmi 22 April 2023 at 08:57

Gold prices and their relationship with the US dollar or the dollar index are strongly correlated. As the dollar rises, gold prices tend to fall, while when the dollar weakens, the price of gold tends to increase.

How to e-Verify Your Income Tax Return

Elisa 21 April 2023 at 15:32

E-Verify is a process that allows taxpayers to verify their Income Tax Return (ITR) electronically.

Maximizing Your Take-Home Pay: Tips for Tax-Efficient Salary Restructuring in India

Rashmi 21 April 2023 at 08:52

As a salaried employee in India, you're likely to be paying a significant amount of your income in taxes. However, by restructuring your salary package in a tax-efficient way, you can keep more of your hard-earned money and pay less in taxes. Here are some tips on how to do it:

Clubbing of income under Income Tax Act

Ayush 20 April 2023 at 17:51

Clubbing of income refers to the practice of treating the income of one person as the income of another person for the purposes of taxation. This is usually done in cases where the income is earned by one person but is intended to benefit or be used by another person.

Section 194IA | TDS on Sale of Property

CA Ruby Bansal 20 April 2023 at 14:45

Section 194IA of the Income Tax Act is a provision related to the deduction of tax at source (TDS) on payments made for the purchase of immovable property.

Benefits of Filing ITR on time for FY 2022-23

Rashmi 20 April 2023 at 08:48

Filing your income tax return on time comes with various benefits. It not only helps you to avoid penalties and interest charges but also helps to build your financial history, improve your credit score, and increase your chances of obtaining loans and credit cards.

Recent ITAT rulings on Royalty and Fees for Technical Services

CA Rakesh Ishi 19 April 2023 at 15:20

ITAT held that the usage of Microsoft license and service desk facility dealing with IT incidents will not be treated as royalty and Fees for Technical Service (FTS).

TDS Rate chart for FY 2023-24 (AY 2024-25)

Ishita Ramani 18 April 2023 at 14:29

This article presents a tabular representation of the various TDS rates applicable for the Financial Year (FY) 2023-2024 or Assessment Year (AY) 2024-2025, which spans from 01.04.2023 to 31.03.2024. Additionally, it also explains the changes proposed in Budget 2023 with respect to TDS.