Income Tax Articles

Your basic guide to interpret income tax notice

Anand Satyapanthi 22 February 2016 at 10:59

People visualise a red light blinking when they hear the term Income Tax Notice. What they don�t know is that receiving an Income Tax Notice is not as big deal as they make out of it. One needs to understand the reason behind receiving it and t

Save for retirement with NPS & save taxes

Anand Satyapanthi 18 February 2016 at 11:07

What is NPS?Prior to the year of 2004, the Indian citizens received Pension on Defined benefit basis. This meant that the employees would receive certain amount from government as they retire. They didn�t have to contribute anything for it.Howe

What is Advance Tax and how to calculate and pay Advance Tax?

Anand Satyapanthi 15 February 2016 at 10:45

What is Advance Tax?Advance Tax is part payment of your tax liability before the end of the financial year. It is also called pay as you earn scheme where the income tax should be paid in the year in which the income is received.Who is required to pa

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

chirag gupta 15 February 2016 at 10:43

This act deals with the problem of black money i.e. undisclosed foreign income & assets, procedure for dealing with such income and assets and to provide for imposition of tax on any undisclosed foreign income and asset held outside India and for

Complete Guide To Filing Appeals Before CIT(A)

CA Vap Patel 15 February 2016 at 10:36

(1) By 31st March, 2016, in addition to the numerous reopened assessments, Assessing Officers (AOs) shall finalise scrutiny assessments under section 143(3)/ 144 of the Income-tax Act, 1961 (the �Act�) for Assessment Year (AY) 2013-14, an

A Guide to Understand the Salary Structure

Anand Satyapanthi 12 February 2016 at 11:13

I bet you never knew the perks of understanding your Salary Structure better!For most people, salary is simply a paycheque they get at the end of each month. The salary structure mentioned in the slip that comes with it hardly attracts any attention

Submit your Disclosure to Claim Income Tax Deductions

Anand Satyapanthi 10 February 2016 at 10:44

Are you eligible to any Income Tax Deductions this year?You might be eligible to claim income tax deductions. All you have to do is to get it mentioned in your TDS statement. The Employer has the responsibility to deduct Income Tax from the salary of

Natsamrat's Love, Gift & Income Tax

CA Umesh Sharma 09 February 2016 at 10:53

Arjuna(Fictional character):Krishna, Valentine's Day (14thof February) is celebrated all over the world as the day of "Love."Krishna, "Love" has a variety of related but distinct meanings in different contexts in th

Know your tax saving limit - The complete guide

Manish Hingar 08 February 2016 at 10:43

WHAT ON EARTH IS TAXES?With layman's dialect tax is usually a compulsory contribution that all one who brings in an income as well as comes in the taxpaying area has got to pay on the authorities since authorities has got to launch a lot of res

Mandatory quoting of PAN

Gagan Deep Singh 03 February 2016 at 10:32

The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Ac