Income Tax Articles

Lower or No Tax certificate under Income tax- Procedure

CMA Ramesh Krishnan 12 September 2020 at 10:55

The concept of TDS under Income tax act is a common procedure and the object of TDS is to collect tax from the very source of income.

How should the e-TDS/TCS return be prepared?

Mita Basak 11 September 2020 at 09:31

e-TDS/TCS return has to be prepared in the data format issued by e-Filing Administrator. This is available on the Income Tax Department website and NSDL-TIN website

Form 49A : PAN Application Form Download

Puneet Taneja 10 September 2020 at 15:44

Form 49A is the PAN Card application form for allotment of Permanent Account Number for Residents of India. Any Individual who wishes to apply for PAN should fill Form 49A.

Basic Questions on Computation of Income Tax

Subodh Jain 08 September 2020 at 09:44

The taxes on income can be finalized only on the completion of the previous year. However, to enable a regular flow of funds and for easing the process of collection of taxes, Income-tax Act has provisions for payment of taxes in advance during the year of earning itself or before completion of the previous year.

List of ITRs & Forms for e-Filing with Description

Subodh Jain 08 September 2020 at 09:43

List of ITRs & Forms for e-Filing with Description

Form-15G: Overview, Eligibility, and Format

Puneet Taneja 07 September 2020 at 17:28

It is a declaration form to be filled up by individuals less than 60 years of age and HUFs stating their income is less than the Exemption limit to ensure that no TDS is deducted from their interest income in a year.

All about Thin Capitalisation

CA. Sahil Mehta 07 September 2020 at 09:53

Thin capitalisation refers to the situation in which the portion of the debt is heavier than the equity. They are sometimes referred to as highly leveraged or highly geared companies.

Allotment of Instant PAN Through Aadhaar Based e-KYC

Subodh Jain 06 September 2020 at 11:13

This facility is for allotment of Instant PAN (on a near-real-time basis) for those applicants who possess a valid Aadhaar number. PAN is issued in PDF format to applicants, which is free of cost.

Taxability of Business Perquisites under Income Tax Act

CA Mehul Thakker 05 September 2020 at 09:54

Any benefit or perquisite arising from exercise of business or profession shall be taxed under the head “Profits and Gains from Business or Profession”(PGBP).

Overview of Section 194N of Income tax Act

CMA Ramesh Krishnan 04 September 2020 at 10:35

The Finance Act, 2020, amended section194N with an intention of curb black money and to track people having huge cash withdrawal from bank and who haven't filed their return of income as per the requirement under income tax act.