Income Tax Articles

TCS u/s 206C (1H) - A beginners guide!

Posted by CA Santhosh Gupta Kethepalli 30 September 2020 24589 Views

TCS u/s 206C (1H) will be applicable w.e.f 1st October 2020. Understand the provisions of the section here.

Section 194-O of the Income Tax Act, 1961

Posted by Vivek Jalan 30 September 2020 7178 Views

The Finance Bill 2020 has introduced a new Section 194-O to mandate Electronic Commerce Operators for deducting TDS. Let us understand the provision

Taxability of various perks offered by the PSUs, under the Income Tax Act, 1961

Posted by Madhur Gandhi 30 September 2020 15571 Views

Various perks and allowances are offered to the officials by the PSU's. Let us discuss how they are taxed under the Income Tax Act, 1961.

Vodafone wins arbitration against India in retrospective tax case

Posted by Shreya Bafna 29 September 2020 4757 Views

The telecom major Vodafone won a long-pending case against the Indian government in an international court over Rs.22, 000 crore in a retrospective tax dispute. Let's take a look at what happened.

Cases where Income of a Previous Year will be assessed in the Previous Year Itself under Income Tax Act

Posted by CA Santhosh Gupta Kethepalli 28 September 2020 8449 Views

The income of a previous year is assessed in the assessment year following the previous year. However, there are certain exceptions to this rule. Let us understand those.

Section 68 of The Income Tax Act, 1961

Posted by Satvik 28 September 2020 4521 Views

Understanding section 68 of The Income Tax Act, 1961 with case laws and illustrations.

Liability Of Legal Representative Under Income Tax Act,1961

Posted by FCS Deepak Pratap Singh 28 September 2020 6830 Views

There are numerous situations under which it is not possible to find out the real person to access tax on, due to various reasons. Read the article to know who may be liable under these circumstances.

Faceless Appeal Scheme, 2020

Posted by Lekhraj sood 28 September 2020 7380 Views

The Faceless Appeal Scheme, 2020 came into effect via a notification dated 25.09.20. Know all about the scheme here.

House Rent Allowance - A Tax planning tool for Salaried Persons

Posted by CA Chandra Kishore Bajpai 25 September 2020 15828 Views

House Rent Allowance (HRA) is the second component that is found in each payslip after the basic salary. There are numerous doubts regarding this provision. Some of the popular questions have been answered in our article.

Depreciation Allowance under Sec 32 of the Income Tax Act, 1961

Posted by Puneet Taneja 24 September 2020 12061 Views

As per section 32 of the Income Tax Act, 1961, depreciation is allowed on tangible assets and intangible assets owned, wholly or partly, by the assessee and used for the purposes of business or profession.