Income Tax Articles

Analysis of changes in ITR Forms for FY 2018-19

KARAN ARORA 26 June 2019 at 17:15

The Income Tax Department has brought about certain changes in select ITR forms meant to be used for assessment year 2019-20. Individuals and businesses are req..

The world beyond Section 80C of Income Tax Act 1961

CA Mili Shah 26 June 2019 at 13:13

PF, ELSS, LIC, NSC, PPF,SSY, Tuition fee, FD for 5 years, ULIP, Home loan principal repayment, Post office saving scheme etc are the common strike off's in

Avoid these mistakes while filing ITR

Manish Kumar Gupta 25 June 2019 at 17:42

An Income tax return (ITR) is a form filed with the Income tax authority of India that reports about i

Section 44AE of The Income Tax Act, 1961

CA. Atul Khurana 24 June 2019 at 11:22

Section 44AE of The Income Tax Act, 1961Special provision for computing profits and gains of business of plying, hiring or leasing goods carriagesThis section a..

Form 26AS: The easiest way of recalling the TDS amounts deducted during the year

Ranu Gupta 24 June 2019 at 11:21

With the due date of income tax return filing approaching soon, the taxpayers have started collecting the necessary documents and information. If you are provid..

Section 44AB vs 44ADA

CA. Atul Khurana 14 June 2019 at 11:29

As Section 44AD is applicable on business (click here to read in detail), Section 44ADA applies on professionals.It says that if an eligible assessee (professio..

TDS on immovable property explained with examples

PUSHP KUMAR SAHU 12 June 2019 at 11:21

Before coming on the main article, let�s understand why there is a need of invoking such prov

Do we need to file income tax return if the income is less than Rs 5 Lakh?

Priya Kashyap 08 June 2019 at 11:32

While presenting Budget 2019, the finance minister mentioned that people earning less than Rs 5 lakhs would have to pay no taxes as they would get tax rebate up..

Startup recognition and deduction u/s 80-IAC and exemption u/s 56(2)(VIIB) of the act

CA Varsha Nanwani 31 May 2019 at 18:04

To promote new startup and make in India, government has taken several initiatives to give benefit to startup and attract fresh fund in startup business. Hereby..

Late filing fees and penalty for failure to furnish/delay in furnishing the TDS/TCS statements

Guest 29 May 2019 at 15:42

Before understanding the penalty provisions for failure to furnish the statement of Tax Deducted at Source or statement of Tax Collected as Source (i.e. commonl..