Income Tax Articles
Save upto 78K in Taxes and Also Get Financially Fitter with ETMONEY
23 March 2021
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Tax Saving is often considered one of the most important aspects of Financial Planning. We all know that every year we have to pay a certain percentage of our income as tax to the government.
How to Legally Save Income Tax?
In this article, we will be discussing certain legal ways in which an individual can actually save some chunk of their money and not give it all away as taxes.
Indian Income Vs Foreign Income
Analysing the difference between Indian Income and Foreign Income with respect to the Income deemed to Accrue or Arise in India as per the Income Tax Act, 1961.
Issues of Shares at a Premium - Tax Implications
When Shares are issued at a value more than the Face Value, then it is called Issue of Shares at a Premium. In this article, we discuss the tax implications of the same.
Tax Saving Instruments
A taxpayer, before looking at investing in any tax-saving instruments, needs to first be aware and understand the total tax liability applicable. To get to most effective and efficient way of tax saving ,one should know first calculate amount payable .
Deduction under Section 80C
Savings play an important role in the economic development of any country. To boost saving habits, an incentive in the form of a deduction out of one's taxable income has been allowed. Discussing Section 80C in that regard.
FAQ on Section 194Q TDS on purchase of goods
Discussing the FAQs about the requirement to deduct TDS on purchase of goods with effect from 01-07-2021 with a distinction between the new Section 194Q and Section 206C(1H).
Section 36(1)(va) with Section 43B of the Income Tax Act
It is proposed to add another Explanation to section 36(1)(va) clarifying that provision of section 43B does not apply and deemed to never have been applied for the purpose of determining the 'due date”.
Compilation of Notifications & Circulars issued by CBDT in the month of August 2020
1. Non-applicability of Section 206AA to non-residents to whom Section 139A does not apply on account of Rule 114AAB: Section 206AA provides that any perso...
Taxability of Gifts: Sec 56(2)(X) of IT Act, 1961
To prevent the practice of receiving a sum of money or the property without consideration or for inadequate consideration, section 56(2)(x) brings to tax any sum of money or the value of any property received by any person without consideration or the value of any property received for inadequate consideration.
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