Income Tax Articles

Individuals - Residential Status & Amended Income Taxability

CA Kunal Arora 21 September 2021 at 09:57

An Indian Citizen who leaves India during the PY for the purpose of employment or as a member of the crew of an Indian Ship

Section 14A and Rule 8D of the Income Tax Act

Neethi V. Kannanth 20 September 2021 at 14:57

Method for Determining Expenditure Incurred Towards Earning Income Not Forming part of Total Income - Section 14A and Rule 8D

Cryptocurrencies & Taxation of Cryptocurrencies under Income Tax

Taxblock 18 September 2021 at 10:51

A cryptocurrency is digital, decentralized currencies that are issued by a private enterprise to work as a consideration of transaction between two individuals or businesses without any direct interference from the government.

Audit under Section 44AB of the Act

CA.R.S.KALRA 17 September 2021 at 10:09

Provisions of Section 44AB has been explained in this article.

New Income Tax Portal

Taxblock 17 September 2021 at 09:46

New Income Tax Portal was launched on 7th June, 2021 by CBDT (Central Board of Direct Tax). The portal is being redesigned for the easy filing and to eliminate the glitches or any other difficulties.

Payment of Gratuity and Exemption from Tax

Neethi V. Kannanth 16 September 2021 at 17:03

Gratuity is a monetary benefit given by the employer to employees. It is governed by Payment of Gratuity Act, 1972. The exemption limit has been increased to Rs 20 lakh from the earlier Rs. 10 lakh.

Extension of IT Due Dates

CA Umesh Sharma 14 September 2021 at 09:32

Extension of Income Tax Due Dates

How Stubbornness of Shekhar Became A Life-Saviour For Vishal (And How It Teaches An Unforgettable Tax Lesson)

Hardik Lashkari 14 September 2021 at 09:32

Vishal was dejected. He was feeling disheartened as he was left with no choice. He had to do what his dad, Shekhar, asked him to do this morning.

Tax Exemptions Available For Startups In India

Taxblock 13 September 2021 at 09:30

In order to accelerate the spreading of the startup movement in India, the Government had announced an action plan known as the Startup India initiative that addresses all the aspects of startup ecosystems.

Invocation of Section 69C If Assessee Is Opting For Presumptive Taxation

CA.R.S.KALRA 11 September 2021 at 22:59

Provisions of section 69C are very clear that wherever the assessee fails to explain the source of certain expenditure incurred during the year, the same may be deemed to be the income of the assessee.