Income Tax Articles
Taxation of development agreement in parity with stamp duty valuations
The structure of the development agreement and consideration involves two flows of consideration. Stamp duty valuation is done for the maximum available potential FSI transferred by a landowner to a developer.
All About Advance Income Tax
Advance tax can also be called ‘pay-as-you-earn scheme. This helps taxpayers in helping the government and also themselves by not finding it hard to pay the whole tax at one go at the end.
Income Tax E-filing 2.0 New Portal - A bunch of problems & Few solutions
The Income Tax Department has totally disappointed us after launching the new E-filing 2.0 website. Some issues and observations regarding the New Portal have been highlighted in this article.
Comparative Analysis of Section 194Q & Section 206C(1H)
Section 194Q is similar to Section 206C(1H) which was introduced by Finance Act 2020, requiring seller to collect tax at source on transactions between a buyer and a seller.
What is Cost Inflation Index?
Cost Inflation Index means an index, having regard to seventy-five percent of average rise in the Consumer Price Index (urban) for the immediately preceding PY to such PY.
MSME Relaxation: Extension of Validity of UAMs till 31st Dec 2021
This will help EM Part-II and UAMs certificate holders to avail benefits of the provisions under various existing schemes and incentives including Priority Sector Lending benefits of MSME.
TDS and TCS on purchase and sale of goods
TDS u/s 194Q, which was introduced via Finance 2021 has a stark similarity to Section 206C (1H) which was introduced in Finance Act 2020. Let us understand the difference between the two.
How you can download Form 26AS on the new Income Tax Portal?
A new avatar - Effective from June 1, 2020, your Form 26AS will now contain information regarding tax refunds and demands (if any) against your PAN.
Section 10(15): Exempt Interest Incomes
Interest income is one of the most common sources of income for the general public. In this article, we will discuss all the exempt interest incomes under the Income Tax Act, 1961.
Section 206AB of the Income Tax Act, 1961
Discussing the provisions of section 206AB, exemption available under the section, rate of TDS, applicability of the section with section 206AA, meaning of the term 'specified person' and effective date of the section.
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