Income Tax Articles

IT department has resumed the service of Aadhaar PAN linking

CA Puja Sharma 02 June 2022 at 09:04

Income Tax Department has resumed the facility of Aadhar PAN linking from 1st June 2022 with due payment as prescribed in CBDT Circular No.7/2022 dated 30.03.2022

Interest levied under Income Tax Act

Neethi V. Kannanth 01 June 2022 at 08:59

Interest is levied under Income Tax Act, 1961 under section 234A, 234B and 234C. Let us discuss them in detail.

How Passive Income From Fractional Ownership Of Commercial Real Estate Is Taxed In India

Suhasini 30 May 2022 at 11:49

Passive income is money earned with little or no regular effort. Commercial property fractional ownership is a new source of passive income. However, if anything permits you to generate income, it is subject to taxation. The IT laws for commercial property fractional ownership differ from that for residential property.

Six Major changes in new ITR Forms notified

Vaibhav Singh 30 May 2022 at 08:28

The new information which taxpayers need to provide is the source of their "pension, interest received from the EPF account, date of purchase or sale of land", etc. It is essential for you to know the six additional pieces of information to provide them in the ITR form.

Statutory Tax Compliance Tracker for the m/o June 2022

CS Lalit Rajput 30 May 2022 at 08:28

The article lists down Statutory Tax Compliance Tracker for the m/o June 2022

All about PAN and TAN

CA Sachin M Jain 30 May 2022 at 08:27

You must have heard about PAN & TAN but got confused - What is it and are they really different?

11 situations in which ITR filing becomes mandatory

FCS Deepak Pratap Singh 28 May 2022 at 08:57

In this article we have listed all those situations which require an individual to furnish his return of income for the Financial Year 2021-22 (Assessment Year 2022-23).

Taxation of Carbon Credit u/s 115BBG

Neethi V. Kannanth 27 May 2022 at 08:54

A carbon credit is a permit that allows the holding company to release a certain amount of carbon dioxide or other greenhouse gases. One load requires a mass equal to one ton of carbon dioxide to be released.

Higher Rate of TDS and TCS under Section 206AB and 206CCA

Neethi V. Kannanth 26 May 2022 at 09:05

Finance Act, 2021 inserted two sections 206AB - tax deduction and 206CCA - tax collection which came into effect from 1 July, 2021. These sections were amended through the Finance Act, 2022.