Income Tax Articles

Section 206C | Tax Collection at Source

Posted by CA.R.S.KALRA 23 March 2021 8219 Views

TCS is the tax payable by a seller which he collects from the buyer at the time of sale. Section 206C of the act governs the goods on which the seller has to collect tax from the purchasers.

Section 36(1)(va) with Section 43B of the Income Tax Act

Posted by Anmol 22 March 2021 8797 Views

It is proposed to add another Explanation to section 36(1)(va) clarifying that provision of section 43B does not apply and deemed to never have been applied for the purpose of determining the 'due date”.

FAQ on Section 194Q TDS on purchase of goods

Posted by PRIYANKA GUPTA 19 March 2021 11903 Views

Discussing the FAQs about the requirement to deduct TDS on purchase of goods with effect from 01-07-2021 with a distinction between the new Section 194Q and Section 206C(1H).

Deduction under Section 80C

Posted by Ritik Chopra 19 March 2021 4137 Views

Savings play an important role in the economic development of any country. To boost saving habits, an incentive in the form of a deduction out of one's taxable income has been allowed. Discussing Section 80C in that regard.

Tax Saving Instruments

Posted by ruchi rath 19 March 2021 2919 Views

A taxpayer, before looking at investing in any tax-saving instruments, needs to first be aware and understand the total tax liability applicable. To get to most effective and efficient way of tax saving ,one should know first calculate amount payable .

10 Significant Changes in Income Tax w.e.f 1st April 2021

Posted by CA Sapna Ghelani 19 March 2021 18440 Views

The article highlights on a few significant changes which are going to give effect in Income Tax from 1st April 2021.

Issues of Shares at a Premium - Tax Implications

Posted by CA. Aditya Goel 19 March 2021 12833 Views

When Shares are issued at a value more than the Face Value, then it is called Issue of Shares at a Premium. In this article, we discuss the tax implications of the same.

Indian Income Vs Foreign Income

Posted by Ritik Chopra 18 March 2021 42314 Views

Analysing the difference between Indian Income and Foreign Income with respect to the Income deemed to Accrue or Arise in India as per the Income Tax Act, 1961.

How to Legally Save Income Tax?

Posted by Prachi Bansal 18 March 2021 7727 Views

In this article, we will be discussing certain legal ways in which an individual can actually save some chunk of their money and not give it all away as taxes.

Tax planning & To do list before 31st March 2021 - Capital gain tax perspective

Posted by JINESH MEHTA 18 March 2021 13281 Views

We are in the month of March, Hence, it is extremely important to know the tax implication on stock market transactions and actions to take before 31st March 2021 as far as tax planning is concerned.