Income Tax Articles

Do we need to file income tax return if the income is less than Rs 5 Lakh?

Posted by Priya Kashyap 08 June 2019 18649 Views

While presenting Budget 2019, the finance minister mentioned that people earning less than Rs 5 lakhs would have to pay no taxes as they would get tax rebate up...

Startup recognition and deduction u/s 80-IAC and exemption u/s 56(2)(VIIB) of the act

Posted by CA Varsha Nanwani 31 May 2019 14795 Views

To promote new startup and make in India, government has taken several initiatives to give benefit to startup and attract fresh fund in startup business. Hereby...

Late filing fees and penalty for failure to furnish/delay in furnishing the TDS/TCS statements

Posted by Guest 29 May 2019 14643 Views

Before understanding the penalty provisions for failure to furnish the statement of Tax Deducted at Source or statement of Tax Collected as Source (i.e. commonl...

All about OIDAR

Posted by CA Sandeep Bhatnagar 21 May 2019 11444 Views

In this hi-tech, age business has undergone major transformation and new methods of transactions have evolved which are fast paced and require little physical e...

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

Posted by CA Kanika Mittal 17 May 2019 19533 Views

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

Posted by Manish Kumar Gupta 14 May 2019 31045 Views

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?

Posted by Soumya Laha 08 May 2019 18495 Views

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

Posted by CA Sandeep Bhatnagar 06 May 2019 13460 Views

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

Posted by CA Arun Valera 06 May 2019 24952 Views

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

Posted by Vikas Sharma 06 May 2019 12540 Views

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...