Income Tax Articles
Section 197 | Certificate For Deduction at Lower Rate
Section 197 of the Income Tax Act, permits taxpayers a facility of Nil or lower tax rate deduction of TDS or exemption of TDS. The Nil or lower TDS application is valid for the period for which it is issued or until the assessing officer cancels it.
Fasting for Stranded Resident Indians & A Half-Baked Cookie for NRIs!!
CBDT fails to recognise that the question is not of the double taxation issue but the probable adverse taxation consequences arising out of an individual's changed residential status due to his/her forced stay of more than 182 days in India, due to COVID.
Basic Questions on Computation of Income Tax
The taxes on income can be finalized only on the completion of the previous year. However, to enable a regular flow of funds and for easing the process of collection of taxes, Income-tax Act has provisions for payment of taxes in advance during the year of earning itself or before completion of the previous year.
List of ITRs & Forms for e-Filing with Description
List of ITRs & Forms for e-Filing with Description
Form-15G: Overview, Eligibility, and Format
It is a declaration form to be filled up by individuals less than 60 years of age and HUFs stating their income is less than the Exemption limit to ensure that no TDS is deducted from their interest income in a year.
Taxability In Case Of Partly Agricultural And Partly Non-Agricultural Income
Discussing how taxpayers can distribute their income in case of agricultural income and non-agricultural income according to Rules 7, 7A, 7B and 8 of the Income Tax Rules, 1962.
Section 196C | TDS on Income from foreign currency bonds or GDRs
Under Section 196C, any income arising by way of interest, dividend, or long term capital gains from foreign currency bonds or GDRs is liable for TDS @ 10%.
Section 196D | TDS on Income of foreign institutional investors from securities
Under Section 196D of the Income Tax Act, TDS is deducted for a Foreign Institutional Investor if the income is in respect of securities referred to in Section 115AD.
All about Thin Capitalisation
Thin capitalisation refers to the situation in which the portion of the debt is heavier than the equity. They are sometimes referred to as highly leveraged or highly geared companies.
Section 196B | TDS on long term capital gains (LTCG) from units referred to in section 115AB
Discussing the meaning, rate of TDS, nature of payment etc. of Section 196B which deals with TDS on long term capital gains (LTCG) from units referred to in section 115AB.
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