Income Tax Articles

TDS on Rent - Section 194I

Prince Grover 13 March 2020 at 17:26

Section 194I TDS on Rent of the Income Tax Act 1961 contains provisions with respect to TDS deduction on payment of rent.

TRACES Login : How to log in to TRACES portal and download Form 16B?

CCI Team 12 March 2020 at 12:03

Form 16B is a certificate for tax deducted at source under section 3 of the Income Tax Act on the sale of Immovable Properties.

Taxability of foreign companies in India

ONAM AGGARWAL MOHIT MITTAL 12 March 2020 at 10:19

In India, companies are taxed on their income according to their residential status. A company with residential status in India will be taxed on its global income whether earned in India or outside India whereas a non resident company will be taxed only on income received, accrued or arise in India.

Professional Fees TDS

CCI Team 07 March 2020 at 13:35

Section 194J of the Income Tax Act 1961 contains provisions with respect to TDS deduction on fees for professional or technical services.

FAQ's on Vivad se Vishwas Scheme by CBDT

Guest 06 March 2020 at 10:20

The ‘Vivad se Vishwas’ Scheme was announced during the Union Budget, 2020, to provide for dispute resolution in respect of pending income tax litiga..

How to plan for Foreign Travel and its TCS under Income tax w.e.f. 01.04.2020?

CA Umesh Sharma 05 March 2020 at 10:31

How to plan for Foreign Travel and its TCS under Income tax w.e.f. 01.04.2020?

TDS Impact on E-Commerce Transactions

Kishan Mer 02 March 2020 at 10:31

Finance Bill, 2020 proposed to Insert sec 194-O, where E-commerce Operator ("Operator") liable to deduct TDS from payment made to E-commerce participant ("Participant") in respect of sale of goods or services or both facilitated by operator through its digital or electronic platform, at rate of 1%, at time of credit or payment w. e. earlier.

New Income Tax Regime - Structural Shift in Taxation under Income Tax Act

CA PARTH SHAH 28 February 2020 at 11:30

Income Tax Regime - FM Nirmala Sitaraman in her budget has introduced a new taxation regime under personal taxation. Instead of giving relief to all the Individual & HUF by increasing the tax slabs directly

Tax Benefits of 3 Common Loans in India

Guest 27 February 2020 at 16:58

Loans not only serve as an ideal option to arrange for funds in times of financial need, but may also have some tax benefits associated with them. In the following sections we will discuss how you can save tax when repaying 3 most common loans availed in India - home loan, personal loan taken for the purpose home renovation and education loan.