Income Tax Articles

Tax Implications where liabilities are paid off By way of book adjustment

CA Kanika Mittal 17 May 2019 at 10:47

As per provisions of Section 40A(3) Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day,..

TDS Full Form

Manish Kumar Gupta 14 May 2019 at 19:11

TDS stands for Tax Deduction At Source. TDS is applicable on every person who is making the payment which are specified under Income Tax Act,1961.

No income tax on total income upto Rs. 5 lacs- True or False?

Soumya Laha 08 May 2019 at 11:04

Nowadays people are discussing about a news that no income tax is required upto Rs. 5 lakh. Even some people think that they do not need to file income tax retu..

How to easily calculate tax on Shares and Mutual Funds

CA Sandeep Bhatnagar 06 May 2019 at 10:57

In order to incentivize the equity markets Government has given various sops to this sector. Under Section 10(38) of Income Tax Act, exemption to long term capi..

Taxation of Artists, Entertainers and Sports persons

CA Arun Valera 06 May 2019 at 10:57

Ever wondered, when Virat Kohli hits centuries on cricket grounds situated outside India, which country shall have right to tax his income arising from such pla..

Receipt of Salary in Arrears and Relief u/s 89

Vikas Sharma 06 May 2019 at 10:57

Sometimes you may have received a portion of your salary in arrears or in advance, or you may have received a portion of your family pension in arrears or in a..

Whether EPF withdrawal attracts Taxes?

Vikas Sharma 04 May 2019 at 11:53

The Employee Provident Fund (EPF) is an investment and more beneficial scheme enacted by the Government in the common interest of employees. In this scheme, the..

Secondary Adjustment - Section 92CE & Rule 10CB

CA Pratik Bhavsar 02 May 2019 at 11:19

Transfer pricing provisions seek to ensure that there is fair and equitable allocation of taxable profits amongst the tax jurisdictions. In cases where the unde..

Compliance calendar for the month of May 2019

CS Lalit Rajput 01 May 2019 at 11:03

This article contains various Compliance requirements under Statutory Laws. Compliance means 'adhering to rules and regulations.' Compliances under:1. Complianc..

About 80JJAA: Deduction in respect of employment of new employees

Rishi Jhajharia 30 April 2019 at 11:04

Eligible assessee: Any assessee engaged in business and liable for tax audit u/s 44abDeduction: 30% of Additional employee cost for 3 consecutive yearsMeaning o..