Income Tax Articles
Deduction under section 54EC on Capital Gain
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
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 ...
Tax Planning has to start early
Start your tax planning now rather than asking your CAs or consultants later.
Whether Interest On Compensation Awarded By MACT (Motor Tribunal) Considered As Income
Whether Compensation awarded by Motor Accident Claims Tribunal - Interest on compensation awarded up to date of order of Tribunal or Court is taxable
Explained: All you need to know about AIS & TIS
The Income Tax Department has rolled out the new AIS & TIS, tax payers can now access the same at e-filing portal.
Introduction of Alternate Taxation Scheme for Individuals and HUF w.e.f AY 2021-22
The new tax regime has reduced tax slabs for individual and HUF taxpayers with a condition to forgo certain tax deductions or exemptions. Let us discuss the new regime in this article.
Submission of Income Tax Returns through IT return Preparers
It is quite evident that India has one of the lowest numbers of ITR filers considering the large population of the country. In order to overcome this problem and make tax filing easier for Indians from all walks of life, a new scheme to facilitate submission of Income Tax Return through Tax Return Preparers has been inserted w.e.f. June 1, 2006.
Whether sum received from Subsidiary to the holding company in a scheme approved by High Court considered as Slump Sale
Whether any sum received from a subsidiary company by a holding company under scheme of arrangement sanctioned by High Court under provisions of Section 391 to 394 of the Companies Act, 2013 , be treated as 'Slump Sale' and liable to Capital Gain Tax?
Applicability of Rate of Interest where interest rates have changed before tax/duty payment
Taxpayers have to pay tax on or before the prescribed due date and if tax is being paid after the due date, interest at the rates prescribed under the erstwhile Act shall be levied.
Section 206AB and 206CCA - Special Provision for Deduction/Collection of TDS/TCS for non-filers of ITR
The new sections 206AB and 206CCA are inserted via Finance Act, 2021 which provides for a higher rate of TDS/TCS to be applied if the transactions are done with the non-filers of the Income Tax Return.
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