Income Tax Articles

Senior Citizen Tax Exemption: Interest Income FY 2020-21

12 April 2021 2171 Views

Discover how senior citizens can claim tax exemptions on interest income up to Rs 50,000 under Section 80TTB for FY 2020-21. Learn about taxable income and TDS....

Singapore Tax Guidelines for MNC Hubs & HQs

Posted by Atishay Jain 12 April 2021 2181 Views

Discover key takeaways from Singapore's tax guidelines for MNC hubs & HQs. Learn how to determine arm's length remuneration and understand value creation.

TRACES Grievance Redressal: Apply Online for Deductees

Posted by Aruhi 11 April 2021 2021 Views

Resolve your TRACES grievances online. Learn how to apply for redressal, track your requests, and correct Form 26QB for deductees. Get started now!

Capital Asset to Stock-in-Trade: Understanding Section 45(2)

Posted by FCS Deepak Pratap Singh 10 April 2021 19576 Views

Learn how Section 45(2) of the Income Tax Act treats the conversion of a capital asset into stock-in-trade. Understand tax implications and deferral options.

Section 143(1) Income Tax: Summary Assessment Explained

Posted by FCS Deepak Pratap Singh 10 April 2021 15260 Views

Understand Income Tax Section 143(1). Learn about summary assessments, adjustments, and intimations without needing to be present. Get informed!

Analysis | Clubbing of Income

Posted by Amitav 09 April 2021 15658 Views

Clubbing of Income

Clubbing of Income demystified under different sections

Posted by POOJA CHANDAK 09 April 2021 72034 Views

Generally an assessee is taxed in respect of his own income. But there are some cases where assessee has to pay tax in respect of income of another person. In the case of individuals, income tax is levied on a slab system on the total income.

Clubbing of Income: An essential part of Tax Filing

Posted by Garvit Dave 09 April 2021 19493 Views

Now that we know the scenarios which lead to clubbing of income, we could efficiently work around this very premise to save taxes. There is a fine line of difference between tax saving and tax evasion, spilling over from one to another could mean

All you need to know about PAN

Posted by Dattatray Hanamant Pujari 08 April 2021 30070 Views

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any "person" who applies for it or to whom the department allots the number without an application.

FAQs on Input Tax Credit (ITC)

Posted by CA CS CIMA Prakash Somani 08 April 2021 80617 Views

INPUT TAX CREDIT Q.1. What is input tax credit? A.1. Input tax credit is the amount of tax paid by the dealer on purchases for which the dealer is entitled to claim a credit.