Income Tax Articles

PPF: Savings cum tax saving investment and its latest rules

Posted by FCA surbhi jain 27 August 2022 5799 Views

PPF is one of the best long term investment options with attractive rate of interest and returns on investment for the individuals who have low risk appetite. It can also be called as savings cum tax savings investment option to save taxes and earn guaranteed returns.

How to update your name on PAN card

Posted by Taxblock 27 August 2022 6764 Views

PAN card or Permanent Account Number is a unique ten-digit alphanumeric number issued by NSDL in India. It is used for various tax purposes while filing as identity proof and serves as valid identity proof for multiple other processes.

Income of Freelancers and Taxation around it

Posted by Taxblock 26 August 2022 4085 Views

Freelancing income refers to an income or money earned by working on specific assignments for a specific term and getting paid for the work upon completion and submission.

Things to check after filing returns

Posted by Neethi V. Kannanth 25 August 2022 16792 Views

Here is the list of things to check after filing return

Interest Under Section 234

Posted by Taxblock 24 August 2022 8271 Views

Under section 234B of the Income Tax Act, you would be fined in the form of interest if you miss or delay the payment. Similarly, you must pay fines under sections 234A and 234C. Here's a rundown of the three sorts of interest you might have to pay in case of default.

File Form 29D to get refund

Posted by Neethi V. Kannanth 23 August 2022 12812 Views

The CBDT through notification no. G.S.R. 634(E) dated 17 August,2022 has amended Income Tax Rules, 1962. As per the notification, a non-resident is required to file Form 29D to claim refund. Read on to know more.

Amount Received Under A Settlement Or Decree May Not Be Taxable Under IT Act 1961

Posted by Adv. Ravish Bhatt, ADIT, CIOT 22 August 2022 39830 Views

In practice, nature of receipt shall be determined by extensive scrutiny of pleadings in suit and / or recitals contained in the settlement agreement and careful drafting will be quintessential.

Clause 44: Clarifications as per new guidance note - AY 2022-2023

Posted by CA Sudhir Halakhandi 22 August 2022 19211 Views

Clause 44: Clarifications as per new guidance note for Assessment Year 2022-2023

Clause 44 of Form 3CD: An illustrative analysis

Posted by CA Sudhir Halakhandi 21 August 2022 117132 Views

The ICAI has issued revised Guidance Note dated 14th Aug. 2022 on 19th Aug 2022 and with respect to the Clause Number 44.

Decoding of Clause 44 of Tax Audit Report (3CD)

Posted by Shankit Sharma 20 August 2022 19689 Views

A question may arise whether the above information is to be given in respect of each and every head of expenditure or only the total expenditure is to be given.