Income Tax Articles
Donation to Political Parties under Section 80GGC
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
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
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
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
Brief guidelines/ indicative documents to be provided by the employee to the employer for AY 2023-24.
IT calculator for AY 2024-25 with IT ready reckoner for FY 2023-24
22 February 2023
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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.
Case Study: Taxation of Charitable Institutions
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".
9 Tax savings Investment options that you shouldn't Miss!!
Here are 9 options that you don't want to miss out on tax savings
Key Changes in new ITR Forms for AY 2023-24
On February 10, 2023, the Central Board of Direct Taxes (CBDT) announced the tax return forms for the financial year 2022–2023. This year, ITR forms were announced in advance, which is a very positive step toward making compliance easier.
How to file an income tax return for LLP?
Every LLP incorporated in India is required to file an income tax return under Section 139(1) of the Income Tax Act of 1961. Partners of an LLP are in charge of filing the annual income tax.
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