Income Tax Articles
TCS Rate: Responsibility to collect TCS as per Income Tax Act
The responsibility to collect Tax Collected at Source lies with certain specified persons or entities as mandated by the Income Tax Act. These entities collect tax from the payee at the time of sale or provision of certain goods or services.
Exemption u/s 54 cannot be denied merely due to mistake by the developer
Mukesh Harilal Mehta Vs ITO 16(3)(1) (ITAT Mumbai) Appeal Number : ITA No. 2256/MUM/2023
Section 43B (h) of Income Tax Act, 1961 - Disallowances of expenses due to non-payment to MSMEs
Section 43B (h) of Income Tax Act, 1961
Burn All Your Previous MSME Outstanding Before 31st March 2024?
The introduction of Section 43B(h) in the Income Tax Act, 1961, signifies a move towards responsible business practices, similar to celebrating Holi with not only colours but with care and consideration for others.
Beyond Borders: Understanding the Impact of the Black Money Act on Foreign Assets and Income
This article simplifies these requirements, covering property, stocks, ESOPs, and shares held abroad. Understanding what needs to be disclosed in the income tax returns and the consequences of non-compliance can help avoid legal and financial penalties.
ITR Deductions Under New Tax Regime
The new tax regime offers lower tax rates but fewer deductions compared to the old regime
Income Tax Act 1961: Chapters
The Income Tax Act, 1961 is an Indian legislation that governs the taxation of income in the country
Aadhaar Card: Enrol, Download, Status
The Aadhaar Card is a unique identification card issued by the Indian government. It contains a 12-digit unique identification number called Aadhaar number, which is linked to an individual's biometric and demographic data. It's used as a proof of identity and address for various government and private services in India.
PAN Card Correction
PAN card correction, updating details, and applying for a duplicate can be done online or offline. For online processing, visit the official Income Tax Department website, fill the required form, upload documents, and make online payment.
How to view/download Book Identification Number(BIN)?
Book Identification Number (BIN) is issued to the deductor on the NSDL Tax information Network. The BIN quoting has been termed mandatory for government deductors, who are reporting TDS without payment through bank challans and the same is to be stated on the quarterly TDS statement.
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