Income Tax Articles
Special Provision applicable to Non-Resident Indian
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
"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
In the ancient land of India, renowned warrior Arjuna found himself perplexed by the complexities of income tax laws.
Ways to Avoid TCS on Foreign Tour Packages: A Guide for Indian Travelers
This article aims to provide a comprehensive guide on how to potentially avoid the TCS and save on travel expenses when booking foreign tours.
Filing Income Tax Returns: Understanding Deadlines and Penalties in India
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
28 July 2023
1895 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
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
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
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
International Taxation: Taxation of Non-residents Shipping Business- Section 172 of the Act
In this article, we discuss about another code under the Income Tax Act, that governs the taxation of non-residents' shipping business which has an overriding effect over all the provisions of Income Tax Act including section 44B.
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