Income Tax Articles

Concept of Tax Information Exchange Agreement in India with Tax Havens and Secrecy Jurisdictions

CA. Pushp Kumar Sahu 11 January 2021 at 09:47

TIEA’s have proven to be a boon for the Indian Tax Administration by providing sensitive financial information about the residents of India who have accumulated wealth outside India.

Advance Ruling - A Crucial Concept in International Taxation

Venkat Raj 11 January 2021 at 09:47

Advance Ruling is a widely used mechanism when a non-resident enters into a transaction with a resident whereby the complexity of the transaction is involved.

International Taxation: Taxation of Non-residents Shipping Business- Section 172 of the Act

CA Mehul Thakker 09 January 2021 at 15:24

In this article, we discuss about another code under the Income Tax Act, that governs the taxation of non-residents' shipping business which has an overriding effect over all the provisions of Income Tax Act including section 44B.

Section 194A | TDS on Interest (Other Than Interest on Securities)

CA.R.S.KALRA 09 January 2021 at 09:32

In this article, we discuss all about Section 194A of the Income Tax Act 1961, which deals with the TDS on Interest (Other Than Interest on Securities), including its threshold limit, rate of TDS and recent amendments.

Seizure of undisclosed jewellery and its assessment thereupon- Legal Treatise

CA.Mohit Gupta 08 January 2021 at 16:55

CBDT has clarified that no seizure should be made by the Search Party of the Jewellery and Ornaments found during the course of search proceedings under Section 132 of the IT Act,1961, where the same have been duly declared in the Wealth-tax returns.

Section 194 | TDS on Payment of Dividend

CA.R.S.KALRA 08 January 2021 at 09:37

In this article, we discuss all about Section 194 of the Income Tax Act 1961, which deals with TDS on Payment of Dividend, including its threshold limit, rate of TDS and a tabular summary of the entire section.

Section 193 | TDS from Interest on Securities

CA.R.S.KALRA 06 January 2021 at 18:11

In this article, we understand in details about the TDS Section 193 of the Income Tax Act, 1961 which deals with the TDS from Interest on Securities.

Charitable Trusts and NGO - Income Tax Audit and Benefits Available

Neethi V. Kannanth 06 January 2021 at 09:36

In this article, we understand the criteria for Tax Audit and benefits available in the case of Charitable Trusts and NGO, including their taxable income, exempt income, investment of accumulated income etc.

Section 194N: TDS on Cash Withdrawal

Finwealthcare 05 January 2021 at 10:30

Union budget 2019 had introduced a new section 194N - TDS on cash withdrawal. After that certain amendments have come under section 194N in Budget 2020. In this article, we discuss the same.

Section 192A | TDS on Payment of Accumulated Balance Due to an Employee

CA.R.S.KALRA 05 January 2021 at 10:04

In this article, we understand all about TDS on Payment of Accumulated Balance Due to an Employee u/s 192A including the amount of deduction, threshold limit, rate of TDS, etc.