Income Tax Articles
Set-Off and carry forward of losses
There can be profit and also losses in every type of business, where losses are difficult to digest. Though Income Tax Act in India provides for the benefits of losses too. The law contains the provisions for set off and carry forward of losses.
Notices, Appeal, Revisions, Search & Seizure Under Income Tax
If any person is receiving notice then they need to act on the notice. Recently CBDT which is known as Central Board of Direct Tax has launched the scheme that is termed as Centralized Communication Scheme, the scheme says that all the communication shall be made in electronic mode.
Minimum Alternate Tax
Minimum Alternate Tax or MAT is a provision that is in direct tax laws which is for companies, it is the provision for limit the tax exemptions which is availed by the companies.
Don't forget to Update UDIN on e-Filing Portal by 30th April 2022
As per records, Income Tax Department has noticed that some Forms are pending for UDIN update on the e-Filing Portal. Kindly update UDIN against pending forms on or before 30th April 2022.
Some decisions of various courts, tribunals related to various sections of IT Act 1961
Decisions of various courts, tribunal related to various sections of IT Act 1961
Some facts to be kept in mind while tax planning for FY 2022-23
For the central government employees, the government was already contributing 14% of employee's wages towards employee's NPS account. Starting this FY, state government employees will receive a 14% contribution into their NPS account from their respective state governments.
Mandatory filing of Income Tax Return
If you are unsure about whether you are required to file an income tax return, then this article will help you get clarity. Read on to know more about it.
What's in a Face? - A Poetic Tribute to the New Era of Faceless Assessments
Friends, it is often said that a "Poem" conveys your thoughts in lesser words but with a greater impact. So, here is my "Poetic Tribute to the New Era of Faceless Assessments" in my Poem titled, "What's in a Face?". The entire scheme of Faceless Assessments has been explained beautifully in a poetic manner in this Poem.
Non-compete fees paid to key employees at the time of joining is in the nature of "Salary Income"
Karnataka HC rules that non-compete fees paid to key employees at the time of joining is in the nature of "salary income".
Sec 10(34A) - Income on account of buyback of unlisted shares - Is it completely tax exempt?
Sec 10(34A) "any income arising to an assessee, being a shareholder, on account of buyback of shares (not being listed on a recognized stock exchange) by the company as referred to in section 115QA"
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