Income Tax Articles
E-commerce company: How to start and financial/tax compliances around it
The person who wants to start e-commerce business has two modes which is either he can start with e-commerce website or join market place.
How to save money without investment
The income tax department have provided various deductions and exemptions to the taxpayers that can be subtracted from the taxable income under chapter VI A under Section 80 to reduce the burden of tax.
All about 26AS under Income Tax Act
Form 26AS is an important tax filing as it is Tax Credit Statement.
Understanding Forex Transactions with Associated Risks
Forex Transactions indicate the sale and purchase of foreign currencies. It is an agreement of exchanging currency of one country for the currency of the other at an agreed exchange rate on a pre-determined date.
Will it be possible to re-open assessment only because of a change of opinion?
We know that provisions of sections 147 to 151 of the Income Tax Act,1961 deal with Reassessment and escaped assessment of income of an assessee. Income Tax Officer under these provisions reassess by reopening the cases assessed earlier on the believe that incomes or profits or gains chargeable to income tax has escaped assessment.
Guidelines on TDS/TCS u/s 194O, 194Q & 206C
The Finance Act, 2020 and the Finance Act, 2021 have inserted sections 194-O, 194Q, and 206C(1H) to the Income-tax Act for mandating deduction and collection of tax at source on certain transactions. The guideline on TDS/TCS under Section 194O, section 194Q & Section 206C is explained as under.
Sec 115BAC: New system for calculation of income tax liability of individual and HUF
The Budget 2020 introduced section 115BAC in the Income Tax Act, 1961. The section is applicable for income earned for the periods starting from 01.04.2020 i.e. from the assessment year 2021-2022 this new system (optional) takes effect for the calculation of income tax liability of an individual and HUF.
Statutory Tax Compliance Calendar for the month of December, 2021
This Article contains compliance requirements under various statutory Act for which the due date falls in the month of December, 2021. The due dates are very crucial for compliances of the statutory provision under various act in order to avoid penalty, interest or late fee
Short term capital loss
When the amount received from the sale of capital asset is less than cost of acquisition plus expenses on transfer can be termed as capital losses. The loss can be earned from any of the Short-Term Capital loss or Long Term Capital loss depending upon the period of holding.
Automated Income Tax Arrears Relief Calculator u/s 89(1) with Form 10E for the FY 2021-22
30 November 2021
25507 Views
Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2021-22| a pay structure that can help you reduce your tax burden.
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