Income Tax Articles

Some Facts Related to Fixed Deposits

Posted by FCS Deepak Pratap Singh 22 November 2021 3335 Views

We know that Bank Fixed Deposits /Recurring deposits are the most trusted instruments for savings in our country. The people generally wants to deposit their hard earned money in bank in FDs/RDs.

Section 80EEB of Income Tax Act: Interest on Electric Vehicle

Posted by CA Piyush Agarwal 22 November 2021 11242 Views

A new section 80EEB of Income Tax Act, 1961 has been introduced allowing a deduction for interest paid on loan taken for the purchase of electric vehicles from the AY 2020-21.

Income Tax Benefits Available to Individuals and HUF - Part 4

Posted by Neethi V. Kannanth 22 November 2021 8138 Views

This is the last part of the article series related to Income Tax Benefits Available to Individuals and HUF. We will now be discussing about the remaining deductions under Chapter VIA, TDS and advance tax provisions and about exemption from Filing of Income Tax Return

Section 10AA: Provisions Related To Newly Established Units In Special Economic Zones

Posted by Ritik Chopra 22 November 2021 9174 Views

Section 10AA provides a deduction from total income of such profits and gains derived by an assessee being an entrepreneur from the export of articles or things or services for certain consecutive assessment years.

Major Amendment in Registration Procedure u/s 12A & 80G

Posted by Manish Gupta 22 November 2021 3669 Views

Section 12A of the Income Tax Act, 1961 is the stepping stone for every charitable organization. It enables non-profit entities such as Charitable Trusts, Non-Profit Organization, Welfare Societies, Religious Institutions, etc. to claim full tax exemption as per Section 11 and 12 of the Income Tax Act, 1961.

What is e-filing of return?

Posted by Ritik Chopra 18 November 2021 5998 Views

The process of electronically filing Income tax returns through the internet is known as e-Filing or electronic filing of return. This means you no longer need to visit the nearest Income Tax Department's office to file your returns physically.

Withholding Tax Rates as per DTAA

Posted by Neethi V. Kannanth 18 November 2021 8230 Views

This write up provides all such rates as prescribed under various Double Taxation Avoidance Agreements entered into between Indian and various foreign countries.

Deduction under section 54EC on Capital Gain

Posted by Anirban Sinha 18 November 2021 2961 Views

The tax deduction is available under section 54EC of the Income Tax Act. 54EC does not allow any tax exemption on short-term capital gain tax.

Taxability of Listing gains in IPO

Posted by CA Nikita Motwani 16 November 2021 14931 Views

IPOs are an opportunity for picking up great stocks for long term investment. But one of the major reasons for investing in IPOs by retail investors is listing ...