Income Tax Articles
In-depth analysis of Section 115BAC & Form 10-IE
The introduction of a new tax regime is the biggest development and point of confusion for taxpayers. The FM announced a new set of tax slab rates for individuals, HUFs and co-operative societies.
Whether provisions of Section 194Q will be applicable on transfer of unlisted shares
Section 194Q provides that a purchaser of goods/services shall deduct TDS @0.1% from the amount paid to a seller if the total purchases during the year exceed Rs. 50 lakhs and the turnover in the immediately preceding PY exceeds Rs. 10 crores.
Higher TDS for Income Tax Return Defaulters w.e.f. 1st July 2021 - Decoding section 206AB
The IT Department has introduced a new section 206AB effective from 01.07.2021 that ensures a higher deduction of TDS for the payees who have defaulted in filing their ITR for the preceding 2 years.
Taxation of Dividend Income - Complete Guide
Finance Act 2020 has made major amendments to the taxation of dividends. With these amendments, the general notion that dividends are exempt is no longer the same. Let us understand the taxability of dividends.
Section 24: Deductions Allowed While Calculating House Property Income
While calculating income from house property, deductions are allowed out of Net Annual Value. Discussing deductions under Section 24 which are allowed while calculating House Property Income.
Tax Compliance and Statutory due dates for the month of July, 2021
Discussing the Compliance Calendar for July 2021 in two parts i.e. Important Statutory due dates for the GST Returns and Important due dates for the Income Tax Compliance / PF / ESI Returns.
TCS Rate Chart for FY 2021-22
Tax Collected at Source is the tax payable by a seller which he collects from the buyer at the time of sale. In this article, we will discuss the TCS Rates applicable for FY 2021-22.
Exceptions to Restriction on Cash Payments under Section 40A(3) of the Income Tax Act, 1961
Rule 6DD provides certain cases under which no disallowance u/s 40A(3) shall be made where any payment of sum exceeding 10,000 or 35,000 is made otherwise than by a crossed cheque or a crossed bank draft.
Tax Deducted at Source: Provisions for TDS on Purchase of Goods
From 1st July 2021, apart from the current scope of TDS deduction applicable on the notified nature of payment of expenses, businesses are required to deduct TDS on the purchase of goods as well.
Section 194P: TDS in case of specified senior citizen - Relaxation from filing ITR
Section 194P of the Income Tax Act was introduced in Union Budget 2021 to provide conditional relief to senior citizens above the age of 75 years from filing an 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?
- New Interest Rates on Post Office Schemes from 1 July 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
