Income Tax Articles

Special Provision applicable to Non-Resident Indian

Posted by Geetanjali Pandey 29 July 2023 4254 Views

This article provides insight and knowledge about the Special provisions of the Income Tax which are applicable to Non-resident income with respect to certain income as prescribed in Chapter XII-A of the Income Tax Act.

General View on New Tax Regime

Posted by Nikita Agarwal 29 July 2023 4940 Views

"New Tax Regime" or "Optional Tax Regime," was introduced as part of the Union Budget 2020-21. This regime aims to simplify the income tax structure and provide taxpayers with an alternative tax computation method.

Income tax loss Set-Off and Carry Forward provisions

Posted by Amul Jain 29 July 2023 1571 Views

In the ancient land of India, renowned warrior Arjuna found himself perplexed by the complexities of income tax laws.

Filing Income Tax Returns: Understanding Deadlines and Penalties in India

Posted by Rashmi 28 July 2023 5066 Views

In this article, we will discuss the changes in penalties for missing the ITR filing deadline and understand the implications for taxpayers based on their income levels.

Decoding Taxation on Virtual Digital Assets

Posted by Poojitha Raam Vinay

28 July 2023 1877 Views

Virtual Digital Assets (VDAs) refers to any information, code, number, or token in Foreign Currency generated through cryptographic means or otherwise and can b...

General Guidance on Professional Tax

Posted by Nikita Agarwal 28 July 2023 4246 Views

Professional Tax is a state-level tax imposed by various state governments in India. It is levied on income earned by individuals from professions, trades, callings, or employment.

Cash Deposit Rules: Income Tax imposes a penalty of 60% on such transactions

Posted by Gautam Bharthry 28 July 2023 6048 Views

Cash and Deposit Rules of Bank In India, the rules regarding cash deposit and withdrawal are very strict. If you also frequently deposit and withdraw cash in the bank, then you should know these rules.

Tax implications on unlisted shares to both investors and the company

Posted by Nikita Agarwal 27 July 2023 6049 Views

Investing in unlisted shares in India can have various tax implications, both at the time of acquisition and when selling or transferring these shares. U

Tax Rebate under Section 87A

Posted by Rashmi 26 July 2023 16900 Views

If your taxable income is below Rs 5 lakh in the financial year 2022-23 (assessment year 2023-24), you may be eligible for a tax rebate under Section 87A of the Income Tax Act, 1961.

Leave Travel Concession Claim: Provisions, Documents and Frequency

Posted by Nikita Agarwal 26 July 2023 5273 Views

LTC (Leave Travel Concession) is a tax benefit provided by the Indian government to salaried individuals for expenses incurred on travel. The LTC is primarily applicable to government employees, employees of public sector companies, and some private sector employees, depending on their employer's policies and the prevailing tax regulations.