Income Tax Articles
Concept of Tax Information Exchange Agreement in India with Tax Havens and Secrecy Jurisdictions
TIEA’s have proven to be a boon for the Indian Tax Administration by providing sensitive financial information about the residents of India who have accumulated wealth outside India.
Section 194B | TDS on Winnings from Lottery, Game Shows, and Puzzles etc.
In this article, we understand all about Section 194B, which deals with the TDS on Winnings from Lottery, Game Shows, and Puzzles etc. along with some practical illustrations.
Change in TDS on cash withdrawal from 1st July 2020!
Change in TDS on cash withdrawal from 1st July 2020!
Seizure of undisclosed jewellery and its assessment thereupon- Legal Treatise
CBDT has clarified that no seizure should be made by the Search Party of the Jewellery and Ornaments found during the course of search proceedings under Section 132 of the IT Act,1961, where the same have been duly declared in the Wealth-tax returns.
Section 194A | TDS on Interest (Other Than Interest on Securities)
In this article, we discuss all about Section 194A of the Income Tax Act 1961, which deals with the TDS on Interest (Other Than Interest on Securities), including its threshold limit, rate of TDS and recent amendments.
Impact of MLI on Indian Tax Treaties
Multilateral Instruments (MLI) is indeed the talk of the town in the world of International Taxation. Under the OECD*/G20 inclusive framework on Base Erosion and Profit Shifting (BEPS), more than 125 countries are collaborating to put an end to tax avoidance strategies that exploit the gap and mismatches in tax rules to avoid paying taxes.
Reduced Rate of Income Tax for Domestic Companies - Section 115BAA
Every domestic company can optionally choose to pay income tax @22% on its total income for any previous year relevant to the assessment year beginning on or after 01.04.2020
Expenditure related to exempt income
An assessee is not required to pay any tax on exempt incomes and hence any expenditure incurred for earning these types of income should not be allowed to be deducted from taxable profit of an assessee.
Section 194 | TDS on Payment of Dividend
In this article, we discuss all about Section 194 of the Income Tax Act 1961, which deals with TDS on Payment of Dividend, including its threshold limit, rate of TDS and a tabular summary of the entire section.
Section 193 | TDS from Interest on Securities
In this article, we understand in details about the TDS Section 193 of the Income Tax Act, 1961 which deals with the TDS from Interest on Securities.
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