Income Tax Articles

Income tax benefits for FY 2019-20 (AY 2020-21)

Chandra Sekhar Reddy 15 June 2020 at 08:44

June 30 th is an extremely important deadline for the taxpayers. Here are some exemptions you can claim before June 30th.

How to make PAN Card Correction?

Ritika Agarwal 11 June 2020 at 18:01

PAN holds extreme importance in India, not only for Income Tax purposes but also as a proof of identity. Know how to make PAN Card Correction online/Offline on NSDL website.

Equalisation Levy: Applicability, Features and Penalty

CA Rahul Mittal 11 June 2020 at 13:58

Equalisation Levy: Applicability, Features and Penalty

Summary of the Sections restricting cash payment under the Income Tax Act, 1961

Arvind Tuli 11 June 2020 at 09:53

A brief Summary of the Sections restricting cash payment under the Income Tax Act, 1961.

What is Standard Deduction for Salaried Individuals?

Manzil Arora 10 June 2020 at 17:57

A standard deduction of flat INR 50,000 is available to the taxpayers. From FY 2020-21 the Standard Deduction can be claimed if the salaried individual does not opt for concessional Tax Rates in the New Tax Regime.

Deduction under 80D & Tips before investing in a health insurance plan

CA (CS) Ujjwal Jindal 10 June 2020 at 15:52

Section 80D| Deduction in relation to Medical Expenditure

Which scheme should an employee choose to pay taxes in FY 2020-2021?

Yash Salampuria 10 June 2020 at 09:51

The dilemma of which scheme should an employee opt for Income tax in FY 20-21

The Tax Benefits of a Home Loan

CA Pooja Gurwani 09 June 2020 at 15:04

Buying a house is a dream for many and involves a lot financial planning. Home Loan journey can be quite eventful and confusing.

Legality of Prior approval of Joint Commissioner for assessment in search cases under Section 153D of the Income Tax Act'1961

CA.Mohit Gupta 09 June 2020 at 09:56

Legality of Prior approval of Joint Commissioner for assessment in search cases under Section 153D of the Income Tax Act'1961

Checklist for ITR-4 filing for AY 2020-21

CA Rahul Mittal 08 June 2020 at 10:07

ITR-4 for AY 2020-2021 has been notified on the e-filing portal. Every taxpayer shall file the income-tax return electronically except a super senior citizen (whose age is 80 years or above during the previous year 2019-20) who furnishes the return either in ITR-1 or ITR-4.