Income Tax Articles

Section 71: Inter Head Set-Off Of Losses

Ritik Chopra 19 April 2021 at 13:36

A loss which could not be set off within the same head of income shall be allowed to be set off out of the income of any other head in the same AY, but subject to certain exceptions.

TDS on E-Commerce Transaction

Suyash Tripathi 18 April 2021 at 18:45

Understanding TDS implications on E-Commerce transactions through the newly inserted Section 194-O of the Income Tax Act, 1961, applicable rate and various other provisions.

New Slab Rates in Section 115BAC for AY 2021-22

Sahil Dhingra 17 April 2021 at 17:02

From FY 2020-21, taxpayers can choose to pay income tax under an optional new tax regime. The author, in this article, has listed the new slab rates u/s 115BAC.

Section 50C of the Income Tax Act and Latest Rulings

CA KANJ GOEL 17 April 2021 at 09:41

Let us understand Section 50C and the pandora of litigation throigh a recent judgment of Mumbai ITAT, pronounced on 15.01.2021 in the matter of Maria Fernandes Cheryl.

E-Verification of ITR - An Easy Guide

Suhasini 16 April 2021 at 13:46

After having successfully filed your Income Tax Return, the next step is to verify it. In this article, we have provided an Easy Guide on e-verification procedure of ITR.

Tax Deductee Guide | How to meet your TDS obligations?

Aruhi 16 April 2021 at 13:28

In case of certain prescribed payments, the person making the payment is required to deduct tax at source at the prescribed rate. Let us discuss how deductees are required to meet their TDS obligations.

Section 56(2)(X): Taxation of Gift

Sahil Dhingra 16 April 2021 at 12:02

Gift received by any person or persons is taxed in the hands of the recipient under the head Income from other sources and at normal tax rates under Section 56(2)(x) of the Income-tax Act, 1961.

Deemed Dividend under Section 2(22)(e)

Neethi V. Kannanth 15 April 2021 at 08:32

Deemed Dividend is the dividend that is not actually paid as a dividend but assumed to be a dividend for the purpose of taxation under Section 2(22)(e) of the Income Tax Act.

Overview of Form 35 for CIT(A) - Rule 45 of the Income Tax Rules

Sahil Dhingra 14 April 2021 at 13:13

The Provisions relating to the form of appeal to Commissioner (Appeals) are contained under Rule 45 of the Income Tax Rules. As per the said rule 45, an appeal to the Commissioner of Income Tax (Appeals) needs to be made in Form No. 35.