Income Tax Articles
Presumptive Taxation Scheme under Sec 44AE
The benefit of section 44AE is available to all categories of taxpayers who are engaged in the business of plying, hiring or leasing of goods carriages and who do not own more than 10 goods vehicles.
Whether All Incomes From Renting Of Properties Will Be Considered As Income From House Property
It is clear that any income from renting a property (which is a building and/or land attached to it) by the owner not utilized for its own business and profession will be considered as Income from House Property.
Whether Penalty Or Fines Or Penal Interests Allowed As Expenditure Under Section 37(1) Of IT Act,1961
The objective of Section 37 is to claim business expenditure incurred by the assessee which is not covered under sections 30 to 36 as deductions. Thus, this section is as a general section for claiming deductions.
Exceptions to the provisions of Sec 44AD(4) & Sec 44AD(5) - Part VI
There are certain cases in which the assessee fails to opt for the provisions of presumptive taxation because they are not eligible, due to an increase in turnover or receipt of any commission.
Rebate and Reliefs under income tax
Rebate under section 87A of the Income Tax Act is a provision that helps taxpayers to reduce their tax liability. This section is available to people whose income do not exceed Rs. 5 Lakhs.
Taxation of Mutual Fund SIP
An investor can claim deduction up to Rs. 1,50,000/- u/s 80C for investments made in SIP. However, deduction is available only if the SIP is of an Equity Linked Savings Scheme Mutual Fund.
Income from Salary | An analysis
Income from salary is the remuneration that is received by an individual who is rendering services under any contract which is taken by him. The contract should be under employment.
Taxability Of Income From Downlinking Television Channels In India By Foreign Companies
Discussing the taxability of income of a foreign company for downlinking television channels in India and income from display of uncut and unassorted diamonds by a foreign citizen in the Bharat Diamond Bourse.
Key changes in ITR Forms for AY 2021-22 - Part 5: ITR 7
Dividend will now be taxable from Rs. 1/‐ as section 115BBDA is omitted. Accordingly, Interest expenditure u/s 57(1) to earn Dividend can be claimed at sl.no.3....
Whether Medical Expenses incurred outside India by an employer will be taxable as a prerequisite?
Perquisite may be defined as any casual emolument or benefit attached to an office or position in addition to salary. This includes rent-free accommodation, concession in the matter of rent or any other amenity.
Popular Articles
- Senior Citizen Saving Scheme From 1 July 2026 with 5 New Rules
- Income Tax Slab for Senior Citizens Above 60 Years for AY 2026-27: With Deductions, Rebates and Examples
- TCS Return Due Date: New Deadline For Tax Year 2026-27
- How Salaried Employees can save Tax under the New Tax Regime
- TDS Certificates for Non-Salary Income Gets a New Identity For FY 2026-27
- Input Tax Credit Under GST: The One Provision Where a Buyer Pays for a Supplier's Default
- 143(2) Scrutiny Notice Received: What is it and How to Respond Online?
- Best Fixed Deposit Interest Rates 2026 for General and Senior Citizens: Check Which Bank Gives Higher Returns?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
