Income Tax Articles
Best Investment Plan for Senior Citizens
Which is the best investment scheme for a Senior Citizen so that he can meet his monthly hou
TDS on payment of rent more than Rs. 50,000 per month by individuals/HUFs
EXISTING LAWThere is an existing provision for deduction of TDS (deduction of tax at source) under section 194-I in the Income Tax Act, 1961 for individuals/HUF...
Demand u/s 143(1) by IT Dept & rectification thereof u/s 154
Income Tax Return filing season for certain class of assessees including individuals not falling under tax audit provisions has just been over and by now the In...
Compliance calendar for the month of May 2019
This article contains various Compliance requirements under Statutory Laws. Compliance means 'adhering to rules and regulations.' Compliances under:1. Complianc...
Reasons for Notice from Income Tax Department
One of the biggest worries of income taxpayers is getting a notice from the Income Tax Department. The Department issues notices under various provisions of the...
Filing ITRs in India - For residents and non resident Indians (NRIs)
INCOME TAX IN INDIAGovernment of India needs money for its expenses and development activities which is collected in the form of taxes and Income Tax is the big...
Interest and Remuneration paid or payable to partners under Sec 40B
Section 40(b) of Income Tax Act provides some specific conditions for payment of Remuneration includes salary, bonus, commission etc. and Interest paid to partners.
FAQs on Income Tax
What is Income Tax?It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax Law are given in the Inc...
3 famous case laws that clarify how to identify a slump sale
The concept of Slump Sale was introduced in the income tax law through section 2(42C) and section 50B in AY 2000-01 consequent to a ton of litigation and ambigu...
Demand Under Sec 143 (1) And Rectification
DEMAND U/S 143(1) Attimes, income tax payers get intimation of demand from the Departmentu/s 143(1)/143(1A).Most of such cases are generated due to discrepancy ...
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