Income Tax Articles
20% TCS on credit card payments made outside India, effective July 1, 2023
This move is expected to help track overseas transactions, but it has also drawn criticism from some who say it will make it more expensive for Indians to travel and shop online and increase the burden of compliance on the existing taxpayer
Dynamics of Practice
Tax Practice may appear, from a distance, to be lucrative and effortless whereas it is not so primarily on account of the cumulative effect
Uncovering Tax Benefits of Startup India u/s 56 of Income Tax Act
In this article, we will discuss the various tax benefits available under Section 56 of the Income Tax Act for startups in India.
Why is it essential to determine a person's status as Resident, Ordinarily resident and Not Ordinarily resident under Income Tax Act?
As we all must be aware about that an individual’s income taxability is depends upon his residential status, which is to be determined on a year to year basis.
FAQs On Offline verification process of Aadhaar and role of Offline verification seeking entities (OVSEs)
Offline verification is the use of Aadhaar for identity verification and KYC locally, without sending data to and receiving response from UIDAI online. In offline verification resident directly submits the Aadhaar number and associated demographic information to the Offline Verification Seeking Entity (OVSE)
Treatment of RPF/Annuity/Gratuity in the hands of Employee
Treatment Of RPF/Annuity/Gratuity In The Hands Of Employee & Treatment Of Income In The Hands Of Trust/Fund Set Up For The Benefit Of Employees
What is Tax Deducted at Source?
For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation of income. This system is called as �Tax Deducted at Source�, common
How to file ITR in offline mode
To file Income Tax Returns (ITRs) offline, taxpayers must use the Offline Utility provided by the Income Tax Department. This utility allows users to generate a JSON file containing the necessary information and details of their ITR.
9 Best Ways to Save on Taxes with Fixed Deposits
In this article, we'll explore the 10 most effective ways to save on taxes with FDs and how they can be a tool for managing your finances.
Nature, Objectives, Conditions & Approval of Trust set up for the benefit of employees
This article is aimed at providing knowledge the nature and objectives set up for the benefit of the employees and also enlightens about the conditions required to be fulfilled for getting approval from the Income tax department.
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