Income Tax Articles
Foreign Exchange Gains: Capital or Revenue?
Discover if foreign exchange fluctuations are treated as capital receipts when a business hasn't commenced. Understand the tax implications.
Presumptive Taxation for Professionals: Section 44ADA Explained
Understand Section 44ADA for presumptive taxation for professionals. Learn eligibility, benefits, and recent updates for simplified tax filing.
Holding Company Grant to Subsidiary: Revenue or Capital?
Discover if a grant from a holding company to its subsidiary to cover losses is treated as revenue or capital. Understand the tax implications.
Presumptive Tax: Partner Interest & Remuneration Denial
Learn why a partner cannot claim presumptive tax benefits (Sec 44AD) on interest and remuneration from their firm, as ruled by the Madras High Court.
Self Assessment Tax Under Section 140A: Your Guide
Understand self-assessment tax under Section 140A of the Income Tax Act. Learn how to calculate and pay your tax liability before filing your return.
Benefits of Filing Your Income Tax Return on Time
Discover the advantages of filing your Income Tax Return promptly. Secure loans, get visas, prove income, claim refunds & carry forward losses.
Diwali Bookkeeping: Clear Old Accounts & Legal Requirements
Prepare for Diwali by clearing old accounts. Discover legal record-keeping periods under Income Tax, GST, and Companies Act. Ensure compliance.
What is Income? Sources & Taxable Income Explained
Discover what income is, including monetary and non-monetary values. Learn about different sources of income and their tax implications in the UK.
PAN vs TAN: Understanding Your Tax Numbers in India
Discover the difference between PAN and TAN, two crucial tax identification numbers in India. Learn who needs them and their purpose.
Income Tax Offences & Penalties Explained
Understand various income tax offences and the penalties applicable under the Income Tax Act, 1961. Learn about fines for non-compliance and defaults.
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