Income Tax Articles

How you can download Form 26AS on the new Income Tax Portal?

Posted by CAJayprakash Pandey 14 June 2021 12485 Views

A new avatar - Effective from June 1, 2020, your Form 26AS will now contain information regarding tax refunds and demands (if any) against your PAN.

Section 10(15): Exempt Interest Incomes

Posted by Ritik Chopra 14 June 2021 8406 Views

Interest income is one of the most common sources of income for the general public. In this article, we will discuss all the exempt interest incomes under the Income Tax Act, 1961.

Managing the Taxable Income of Corporates

Posted by Manish Gupta 14 June 2021 1819 Views

Direct Tax levied on the income of a corporate is a considerable amount of money that has to be paid to the government every year. In this article, we will discuss the tax-saving provisions available for corporates.

Finance Act 2021 | Did you Know? Certain Taxpayers Have to Pay Double Tax w.e.f 1st July 2021

Posted by CAJayprakash Pandey 12 June 2021 15863 Views

Section 206AB shall replace the applicability of TDS rate with a higher rate of TDS for those who have not filed an ITR for two PY when the aggregate of TDS and TCS is beyond 50,000 rupees in each of those two PY.

Unravelling the terms business, profession, vocation and occupation

Posted by Sivaraman A R 12 June 2021 23135 Views

Discussing the difference between the terms 'business', 'profession', 'vocation' and 'occupation' in the context of the Income Tax Act, 1961.

Section 115BAC of The Income Tax Act, 1961 | New Tax Regime vs. Old Tax Regime

Posted by Ashok Pitroda 12 June 2021 4809 Views

The new tax regime is available for individuals and HUFs with lower tax rates and zero deductions and exemptions available under various provisions of the Income-tax Act, 1961.

Issues on the New Income Tax Portal

Posted by CA Sapna Ghelani 11 June 2021 14436 Views

Within hours after its launch, the new Income Tax website started showing issues like the taxpayers were unable to access the website, popping up of different types of error, and many more technical glitches.

Form 10BD - Statement and Certificate of Donation

Posted by Neethi V. Kannanth 11 June 2021 15146 Views

Form 10BD of the Income Tax Act is a statement of donations containing the details of donations received by Charitable Organizations during the financial year.

What is Pink Tax?

Posted by Muskan Mudgil 09 June 2021 27498 Views

Pink Tax is an income-generating scenario for private companies who found a way to make their product look either more directed to or more appropriate for the population and saw that as a moneymaker.

Allowances [u/s 10(14)(i)] & Personal Allowances [u/s 10(14)(iii)]

Posted by Ritik Chopra 09 June 2021 59510 Views

What are Official Allowances and Personal Allowances under sections 10(14)(i) and 10(14)(iii) respectively of the Income Tax Act and what are its tax implications? Let us discuss.