Income Tax Articles
TDS credit to be given in case of default in payment by the deductor
Landmark JudgementAre we aware that the Income Tax Department cannot deny credit of TDS to the recipient of TDS even though there is a default in payment by the...
Taxability of Income of Unit Holders of Business Trust
The Concept of Business Trust was introduced in India vide the Finance Act�2014 by the Finance Minister Shri Arun Jaitley. The business trusts operate as
Understanding Tax Implications of Income from House / Property
If you own a property which is a building, plot or land attached to such building, then any rental income from such property will be chargeable to tax under the...
All you need to know about TAN
What is TAN Number?TAN number is a specific number allotted for Deduction/ Collection of TDS and payment of same into Govt A/c by a person, who is making paymen...
Various Assessment u/s 143
Sec 143(1): Summary Assessment: It provides for the computation of the total income of an assessee after making the following adjustments: Any arithmetical err...
Revision of TDS Return in case of PAN error Notice received from Department
It is a very common mistake at the time of submitting the TDS return that the PAN of the applicant entered wrongly, now this will make your TDS return defective...
Taxation of Seconded Employees
Secondment of employees, as a concept, has evolved in the era of global commercial mobility.Secondment is where an employee of one organization is working for o...
All changes in new ITR Forms AY 2019-20 with snapshots
The all new Income Tax Return Forms for AY 2019-20 have been released. The ITR forms ITR-1 and ITR-4 have also been made available for e-filing.
Angel Tax : Implication on Startup Ecosystem
IntroductionAngel tax means the tax payable by unlisted companies during the raising of capital wherein the share price exceeds the fair market price of the sha...
How to respond to simple notice received from income tax department
Generally, when you file your return, a notice-cum-intimation is sent under Section 143(1) of the Income Tax Act, 1961. You may not respond to this notice, as i...
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