Income Tax Articles
Form 26AS - Know how to check your tax credit
Issuance of TDS certificate is an obligation for the deductor and you can check the status of TDS deducted from such certificates.
Unexplained Cash Credit- Section 68 of the Income Tax Act
Section 68 of Income Tax Act is one of the debated section which brings huge numbers of litigation and judgments, especially in case of Demonetisation, we have seen a number of assessment orders have been passed by the assessing officer invoking section 68
Compliances to meet in August 2020
Save the dates, know the compliances to be met by this month, August 2020.
How to save Income tax on sale of residential property?
Many taxpayers are not aware the provision of the income tax act on how to save the tax on the sale of residential property. They earn profits on the sale of residential property and pay the taxes. They can save the tax.
Section 206C(1H) - New Provisions and its applicability w.e.f 01.10.2020
The Finance Act, 2020 inserted sub-section (1H) u/s 206C w.e.f 01.10.2020 which requires a seller to collect TCS from the buyer for the amount received as consideration for the sale of goods if it exceeds Rs. 50 lakhs in any previous year.
Popular tax saving deductions and tips to look out for in FY 19-20
Discussing Deductions u/s 80C, 80CCC, 80CCD(1), 80CCD(2), 80D, 80DD, 80DDB, 80E, 80EE, 80EEA, 80EEB, 80G, 80GG, 80GGA, 80GGB, 80GGC, 80TTA, 80TTB, 80U of the Income Tax Act and how they can help you in saving taxes.
Section 194IA | TDS on Purchase of Immovable Property
Discussing Section 194IA of the Income Tax Act, which deals with the TDS on Purchase of Immovable Property including its meaning, rate of TDS, exceptions and practical illustrations.
Consequences of filing ITR(Income Tax Return) after the Due Date
Non-Filing of the Income Tax Return may result in Penalty under Section 271F of Income Tax Act, 1961, Interest under Section 234A of Income Tax Act, 1961, Non-Carry Forward of Losses, Best judgment assessment, Claim of Refund of Taxes, Prosecution for Failure to Furnish Return of Income etc.
Section 194IB | TDS on Rent of Property
Discussing Section 194IB of the Income Tax Act, which deals with the TDS on Rent of Property including its meaning, persons responsible to deduct tax, rate of TDS and practical illustrations on the same.
Section 194H | TDS on Commission and Brokerage
In this article, we discuss Section 194H of the Income Tax Act which deals with TDS on Commission and Brokerage including its applicability, rate of TDS, and major judicial pronouncements.
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