Income Tax Articles
Reverse Mortgage: Advantages and Drawbacks
Senior Citizens are an increasing component of the Indian Society and dependency in old age is increasing in the country. While on the one hand, there is significant increase in longevity and low mortality, on the other hand, cost of good health
Tax Exemptions Available For Startups In India
In order to accelerate the spreading of the startup movement in India, the Government had announced an action plan known as the Startup India initiative that addresses all the aspects of startup ecosystems.
10 Significant Changes in Income Tax w.e.f 1st April 2021
The article highlights on a few significant changes which are going to give effect in Income Tax from 1st April 2021.
Tax treatment of interest income on PF contributions
Interest portion on PF contributions exceeding 2.5L is taxable under the head "Income from Other Sources". Taxable Contributions = ((Contributions in excess of 2.5L/5L*)+(Interest accrued thereon)-( Withdrawals)).
Section 48: Method Of Computing Capital Gain
The income chargeable under “Capital gains” shall be computed by deducting the amounts discussed in this article from the full value of the consideration received or accruing as a result of the transfer of the capital asset.
Taxability of Interest Accrued on Employee Contribution to Recognized Fund
The annual interest computed on employee contribution in excess of Rs. 2.50/5.00 lacs is taxable only at the time when the accumulated balance is paid to the employee.
Presumptive Taxation Does Not Create a Privileged Class of Taxpayers
It is the minimum rate u/s 44AD that has to be considered and higher income option is open for the taxpayers which has to be used if taxpayers have higher income.
Understanding LTA & its benefits
This allowance is provided by the employer to cover the travel expenses of the employee when he is gone for a holiday trip. Leave Travel Concession is another name of LTA.
Benefits and Procedure of Linking Aadhaar with PAN
As per Section 139AA of the Income Tax Act, every person who has PAN as on July 1, 2017, is required to link their PAN with their Aadhaar number within the due date notified by the government.
Mistakes one should avoid while filing Income Tax Return (ITR)
While the filing of ITR has several advantages but committing minor mistakes may sometimes attract huge penalties therefore one should be cautious while filing his own ITR.
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
