Income Tax Articles
Section 194D | TDS on Insurance Commission
In this article, we understand all about Section 194D which deals with the TDS on Insurance Commission including when such tax is or isn't to be deducted, rate of TDS, and reinsurance.
Trust Taxation- Amendments
In this article, we understand the Amendments in Trust Taxation bought in by the Finance Act 2020 and keeping in view, the aftermath of COVID-19 pandemic.
Income Tax Savings on Home Loan
Income tax act provides tax benefits to borrowers of home loan with respect to principal repayment, interest payment and registration charges
Amended Section 194N: TDS on Cash Withdrawals above Rs. 20 lakhs
In order to discourage cash transactions and move towards less-cash economy, Section 194N was inserted vide Finance Act, 2019
Special provisions for computing profits from plying, hiring or leasing goods carriage
Section 44AE provides for estimating the business income of an owner of goods carriages from the plying, hire or leasing of such goods carriages.
e-Proceeding of Income Tax - Easy Guide
e-proceedings is an electronic platform for conducting proceedings in an end to end manner created by the Income Tax department. The objective here is to bring about transparency and efficiency in the income tax related proceedings.
Section 194BB | TDS on Winning from Horse Races
Any person, who is responsible for paying to any person any income by way of winnings from any horse race an amount exceeding Rs. 10,000 (Rs. 5,000 up to 31.5.2016) shall deduct TDS @ 30%.
How to Calculate Gratuity?
In this article, we understand all about Gratuity, including its meaning, taxability, eligibility, and its calculation for Employees covered under the Payments of Gratuity Act, 1972 and those not covered under the act.
Income Tax planning for school
Income received by any university or educational institution existing solely for educational purposes and not for purposes of profit, and which is wholly or substantially financed by the Government is fully exempt from tax
Advance Ruling - A Crucial Concept in International Taxation
Advance Ruling is a widely used mechanism when a non-resident enters into a transaction with a resident whereby the complexity of the transaction is involved.
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