Income Tax Articles

Lump Sum out-of-court Employee settlement and its Tax implications!

Posted by CA Aman Rajput 30 April 2024 503 Views

Imagine you worked for a company, and after leaving your job, you received a lump sum from your employer as a settlement. Now, the big question is: do you need to pay tax on that money? And if yes, under which head will it be taxable?

Beneficial Provisions relating to Labours under Income Tax

Posted by CA Umesh Sharma 29 April 2024 900 Views

Labor Day is a reminder of the contributions of workers to society. They are one of the strongest pillars of our nation, as well as the economy. Businesses have to interact with this labor force on a day-to-day basis and thus should know all the tax and other related provisions relating to labor.

Section 194H: TDS on Commission and brokerage

Posted by Mitali 29 April 2024 10222 Views

Section 194H of the Income Tax Act governs the taxation of commission or brokerage. According to this section, any person responsible for paying to any income by way of commission or brokerage shall deduct tax at source of such income.

Income from House Property For FY 2023-24

Posted by Khush Trivedi 29 April 2024 5538 Views

Let's dive into one of the heads of Income tax i.e. Income From House property. In this article, you will learn about all Provisions & deductions that falls under the said Head.

Income Tax deduction for medical treatment U/s Section 80DDB

Posted by Pranab Banerjee

27 April 2024 9985 Views

U/s 80DDB of the Income Tax Act, taxpayers can claim a deduction for medical treatment of certain specified ailments for self or dependent. Know everything about the section in this article.

Section 80DD: Claim tax deduction on medical expenses for disabled persons

Posted by Pranab Banerjee

27 April 2024 7520 Views

Individuals or HUFs can claim an exemption under Section 80DD of the Income Tax Act for a disabled person who is wholly dependent on the Individual/HUF for support and services.