Income Tax Articles

National Pension System (NPS): Additional Tax Saving Option

Affluence Advisory 28 February 2023 at 08:44

National Pension System (NPS) is a pension cum investment scheme launched by the Government of India to provide old age security to Citizens of India. It brings an attractive long-term saving avenue to effectively plan your retirement through safe and regulated market-based returns.

Impact of Changes in ITR Forms for FY 2022-23!

CA Umesh Sharma 27 February 2023 at 14:16

New ITR forms have been notified by CBDT on 10/02/2023 and 14/02/2023, what is your view on that

Donation to Political Parties under Section 80GGC

CA Ramanujan Sharma 27 February 2023 at 08:49

In this article, the author has tried to explain the section and procedure to be followed for contribution to a political party in a brief and simplified manne...

5 Effective Strategies to Reduce DSO and Improve Cash Flow

Rashmi 27 February 2023 at 08:48

A high DSO can indicate that a company is having difficulty collecting payments, which can negatively impact its cash flow and financial stability. Here are some ways to reduce DSO

Section 150: Notice From The Department

Aisha 25 February 2023 at 15:23

Section 150 of the CGST Act 2017 states that certain entities such as taxable persons, local authorities, banks, state and central government authorities, etc. If a person does not furnish the information return within the specified time period, a notice may be served upon them requiring the same to be furnished within a period not exceeding 90 days.

Capital Gain Tax on Shares

CA Mohit Sharma 25 February 2023 at 09:01

Assets like shares that are listed on a recognised stock exchange and has been held for less than 12 months, are treated as short-term capitals. The proceeds earned through them are treated as short-term capital gains.

Tax Deduction and Documentation for Salary for AY 2023-24

Affluence Advisory 24 February 2023 at 08:54

Brief guidelines/ indicative documents to be provided by the employee to the employer for AY 2023-24.

Case Study: Taxation of Charitable Institutions

FCS Deepak Pratap Singh 22 February 2023 at 09:57

A charitable trust derived its income from the business of providing mineral water to various companies situated in Software Technology Park in Hyderabad. A sum of Rs. 30 Lakhs has been derived as income from such business activity, which has been applied for the purpose of "General Public Utility".

IT calculator for AY 2024-25 with IT ready reckoner for FY 2023-24

Pranab Banerjee 21 February 2023 at 09:01

A quick review (Limited Information) of the applicable provisions under the Income Tax Act, 1961 for the F. Y. 2023-24 (A. Y. 2024-25), after incorporating amendments (only key and selective amendments) proposed by the Union Budget of 2023, are given below for ready reference and information.