Income Tax Articles
Section 44AD: Provisions for computing profits and gains of business on presumptive basis
Section 44AD covers provisions to reduce tax burden and to provide relief from tedious work to small tax assesses, the government of India has incorporated a scheme of presumptive taxation.
Is PAN Mandatory For Some Transactions in Income Tax?
Every person shall quote his permanent account number (PAN) in all his returns or challans or correspondence with any income-tax authority. Other than this, every person shall quote his PAN in all documents pertaining to the transactions
Section 194I | TDS on Rent
Discussing Section 194I of the Income Tax Act, which lays down provisions for TDS on Rent, including its meaning, payment covered, rate of tax and exemptions to the provision.
NRI Bank Accounts Explained in Simple Language
NRI Bank Accounts Explained in Simple Language
Section 194G | TDS on Commission on Sale of Lottery Tickets
Discussing Section 194G of the Income Tax Act, which deals with TDS on Commission on Sale of Lottery Tickets, including its meaning, eligibility, TDS Rate, Time Period and Threshold Limit.
Section 194EE | TDS on Payments in respect of Deposit under National Savings Scheme
Understanding Section 194EE of the Income Tax Act -TDS on payments in respect of deposit under National Savings Scheme , Person responsible to deduct Tax,Rate of TDS,Time period and the limit applicable.
Section 194E | TDS on Payments to Non-Resident Sportsmen or Sports Association
Who is the Person responsible to deduct TDS under section 194E-TDS on payments to Non Resident Sportsmen or Sports Association , Time period of deducting tax,Rate of TDS has been explained in this article.
Deferred Tax Asset and Deferred Tax Liability
In this article , the meaning of deferred tax asset and deferred tax liability has been explained along with brief examples for better understandability.
Taxation of Derivative Transactions
The purpose of this article is to assist the new entrants regarding the taxation of derivative transactions and the method of computation of profits arising out of derivative trading.
Section 194DA | TDS on Payment in respect of Life Insurance Policy
This article discusses the TDS provisions applicable on payment in respect of Life Insurance Policy like who is responsible to deduct tax ,time period of deduction, rate etc.
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