Income Tax Articles

How to check the authenticity of a notice from Income Tax Department?

Mayank Goyal 11 May 2020 at 10:55

If you have received any Income Tax notice, please make sure it carries a document number as now every notice/document/communication issued by the Income Tax Department shall carry a document number. To avoid any miscommunications, it is better to check for its integrity.

Investments to claim deduction under section 80C

Mayank Goyal 11 May 2020 at 10:55

PPF 80-C Deduction or Investment

Old/New Tax Regime- What will help you save Tax?

CA HANSINI Y. BUCH 11 May 2020 at 09:55

From the Assessment Year 2021-22 and thereafter, the taxpayers will have the option to discharge their income tax liability either as per Old Tax Regime or as per New Tax Regime.

Tax Implications on Income earned from Mutual Fund

CA (CS) Ujjwal Jindal 09 May 2020 at 15:05

India has plethora of investment instruments which are available, for an investor, to park his idle funds. At times, it becomes really difficult for a person to select one such instrument, which would reap him good gains.

Taxation of gifts under the Income Tax Act

Pulkit Goyal 09 May 2020 at 10:28

Taxation of gifts under the Income Tax Act

Income Computation and Disclosure Standard (ICDS) and Relevance to income tax

Parth Shah 08 May 2020 at 09:34

Income Computation and Disclosure Standard (ICDS) and Relevance to income tax

Taxation of charitable trust or religious institution

Priyanka Sah 07 May 2020 at 09:23

In India, trusts set up for the social causes and approved by the Income Tax Department get not only exemption from payment of tax but also the donors to such trusts can deduct the amount of donation to the trust from their taxable income u/s 80G

Key Amendment as per Finance Act 2020 applicable from 01-04-2020

CA Ashish Garg 06 May 2020 at 10:28

As per the Finance Act 2020 various amendments have been brought in the Income Tax Act. Amendments like conditions to qualify as a non-resident will take effect from the 1/04/2020

TCS: The new move

CA (CS) Ujjwal Jindal 05 May 2020 at 16:29

TCS operates on the very principle of TDS i.e. Tax Deducted at Source but in practical operation, it is exactly opposite of it.We shall focus upon the provisions of TCS as applicable (under Section 206C of the Income Tax Act, 1961).

Tax Audit- Section 44AB of the Income Tax Act

CA RAHUL JAIN RJ 05 May 2020 at 10:04

A Tax Audit is an audit, made compulsory by the Income Tax Act if the annual gross turnover/receipts of the assessee exceed the specified limit.The Finance Act 2020 has made amendment in section 44AB by inserting a proviso in clause (a) of Section 44AB. As per the new proviso, the tax audit turnover limit would be INR 5 Crores