Income Tax Articles

What is Form-16 for salaried Individuals?

Ritika Agarwal 19 June 2020 at 13:07

Form 16 can't be downloaded by an employee, it can only be issued by your employer. Form 16 is a TDS Certificate and it is to be issued by your employer only.

Section 115BAC of Income Tax Act at a Glance

Sudiesh 19 June 2020 at 12:50

There is a new section called 115BAC intserted in Income Tax, 1961. This is going to effect from AY 2021-22. An assessee can opt old system or new as he wish. When an assesse opting for New he will lose some exemptions/deductions/carry forwad loss etc

No Permanent Establishment Declaration from the non-resident payee under DTAA

Prashant Shah 19 June 2020 at 10:15

No Permanent Establishment Declaration from the non-resident payee under DTAA

Income Tax old vs New Tax Regime Automated Excel Calculator

CA Dhaval Karia 18 June 2020 at 11:00

The Union Budget 2020 introduced a new personal tax regime for individual taxpayers. However, the option for such concessional tax regime requires the taxpayer ..

Know your PAN Card Details, Name, and DOB

Ritika Agarwal 17 June 2020 at 14:56

This facility is referred to as "PAN Verification". By using the Online PAN Verification facility, one can know/verify the Permanent Account Number.

Concept of Marginal Relief-Back to Basics

Bhavin Shah 17 June 2020 at 09:26

Income-tax law provides for a concept known as 'Marginal Relief on surcharge'. The basic idea is that the increase in tax liability (due to surcharge) should not exceed the increase in income.

How to view/download Book Identification Number(BIN)?

Aishna Kukreja 16 June 2020 at 17:29

Book Identification Number (BIN) is issued to the deductor on the NSDL Tax information Network. The BIN quoting has been termed mandatory for government deductors, who are reporting TDS without payment through bank challans and the same is to be stated on the quarterly TDS statement.