Income Tax Articles

Diwali Bookkeeping: Clear Old Accounts & Legal Requirements

Posted by CA Umesh Sharma 01 November 2021 6498 Views

Prepare for Diwali by clearing old accounts. Discover legal record-keeping periods under Income Tax, GST, and Companies Act. Ensure compliance.

Income Tax Offences & Penalties Explained

Posted by Taxblock 26 October 2021 1899 Views

Understand various income tax offences and the penalties applicable under the Income Tax Act, 1961. Learn about fines for non-compliance and defaults.

Income Tax Deductions: Save Money with Section 80C & More

Posted by Taxblock 26 October 2021 1968 Views

Discover key income tax deductions in the UK, including Section 80C investments, HRA, educational loans, and medical insurance. Reduce your tax liability today!...

Income from Capital Gains: Taxable Profits Explained

Posted by Taxblock 26 October 2021 3248 Views

Understand Income from Capital Gains. Learn what qualifies as a capital asset, the types of gains, and how indexation can reduce your tax liability.

Taxable as Individual & Karta After HUF Separation?

Posted by FCS Deepak Pratap Singh 26 October 2021 1327 Views

Discover if you can be taxed as both an individual and Karta of an HUF after separation. Understand the legal implications and taxability in this scenario.

Section 44AD, ADA & AE: A Comparative Guide

Posted by CA.R.S.KALRA 26 October 2021 9462 Views

Understand the differences between Section 44AD, 44ADA, and 44AE of the Income Tax Act. Compare eligibility, presumptive income, and more.

Income from House Property: Tax Calculation & Deductions

Posted by Taxblock 26 October 2021 2794 Views

Understand how to calculate income from house property. Learn about GAV, NAV, standard deductions, and home loan interest deductions.

Section 44AD (4): Consequences of Opting Out of Section 44AD(1) - Part V

Posted by CA.R.S.KALRA 26 October 2021 40143 Views

If a person has opted for a presumptive scheme of taxation u/s 44AD in any one year then they have to remain in the umbrella of section 44AD for the next 5 years.