Income Tax Articles

Rental Income: Not Always 'House Property' Income

Posted by FCS Deepak Pratap Singh 26 October 2021 6145 Views

Discover when rental income from properties is classified as business income, not 'Income from House Property'. Learn the key distinctions.

Deductible Business Expenses: Penalties & Fines Under IT Act

Posted by FCS Deepak Pratap Singh 26 October 2021 8604 Views

Discover if penalties, fines, or penal interest are deductible business expenses under Section 37(1) of the Income Tax Act, 1961. Learn the key distinctions.

Sec 44AD Exceptions: Turnover & Commission Income

Posted by CA.R.S.KALRA 26 October 2021 23206 Views

Discover exceptions to Sec 44AD(4) & 44AD(5) for turnover exceeding limits or earning commission. Learn when presumptive taxation applies.

Income Tax Rebate & Reliefs: Section 87A & 89 Explained

Posted by Taxblock 19 October 2021 4508 Views

Understand income tax rebates under Section 87A and reliefs under Section 89. Learn eligibility and how to claim these benefits to reduce your tax liability.

Mutual Fund SIP Taxation: Tax Benefits & Capital Gains

Posted by CA Umesh Sharma 19 October 2021 10385 Views

Understand mutual fund SIP taxation. Learn about Section 80C deductions for ELSS SIPs and capital gains tax on equity and debt funds. Invest wisely!

Understanding Income from Salary: A Comprehensive Guide

Posted by Taxblock 19 October 2021 5718 Views

Learn what constitutes income from salary, how it's calculated, and explore taxable vs. non-taxable allowances and perquisites. Understand Form 16 and 26AS.

Taxability of Foreign Company Income in India: Downlinking

Posted by FCS Deepak Pratap Singh 19 October 2021 5361 Views

Understand how foreign companies are taxed on income from downlinking TV channels in India. Learn about royalty income and specific exemptions.

ITR 7 Changes AY 2021-22: Key Updates Explained

Posted by Neethi V. Kannanth 19 October 2021 4118 Views

Discover the key changes in ITR Form 7 for AY 2021-22, including updates to schedules and eligibility criteria. Learn what's new for trusts and institutions.