Income Tax Articles
Changes in ITR 1,2,3 and some key points
Form Name For Whom Changes in F.Y. 2018-19 ITR 1 For Individuals being a Resident (other than Not Ordinar...
HUF Formation: Effective way to save the tax
Hindu Undivided Family (HUF) is known to be a very good tax saving tool in India in an ethical & compliant way. Though it is not so widely used by the peopl
Applicability of tax on Cashback
In the increasing backdrop of E-commerce platform of doing business, there arises a tax angle on how to deal with Cashback. Though Income tax, tax the income ar...
Analysis of changes in ITR Forms for FY 2018-19
The Income Tax Department has brought about certain changes in select ITR forms meant to be used for assessment year 2019-20. Individuals and businesses are req...
The world beyond Section 80C of Income Tax Act 1961
PF, ELSS, LIC, NSC, PPF,SSY, Tuition fee, FD for 5 years, ULIP, Home loan principal repayment, Post office saving scheme etc are the common strike off's in
Section 44AE of The Income Tax Act, 1961
Section 44AE of The Income Tax Act, 1961Special provision for computing profits and gains of business of plying, hiring or leasing goods carriagesThis section a...
Form 26AS: The easiest way of recalling the TDS amounts deducted during the year
With the due date of income tax return filing approaching soon, the taxpayers have started collecting the necessary documents and information. If you are provid...
A Brief about TDS Section - 194M
A New section, 194M has been introduced vide finance act, 2019 with regard to Payment of certain sums by certain individuals or Hindu undivided family
Critical Analysis of Issues in Taxation Laws (Amendment) Bill, 2019
The Taxation Laws (Amendment) Bill, 2019 which has been passed by the Parliament will replace the Taxation Laws (Amendment) Ordinance, 2019 (the "Ordinance") promulgated by the President on 20th September 2019 to reduce corporate tax rates and enhanced surcharge on certain incomes by amending the Income Tax Act 1961 and Finance (No. 2) Act, 2019. Here is an analysis of the same.
TDS on Payment made to the carrier engaged for road transport
The assessee-company was engaged in refining crude oil and storing, distributing and selling the petroleum products, The assessee-company required trucks for road transportation of bulk petroleum products from its various storage points to customers or other storage points. It entered into an agreement with another company for the said purpose.
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