Income Tax Articles
Section 87A: Income Tax Rebate of Rs. 2500
As per the Section 87A of the Income Tax Act, 1961:�An assessee, being an individual resident in India, whose total income does not exceed [three hundred
Basic Guide on ITR Forms for AY 18-19
Which ITR form is right for you? The ultimate guide on ITR forms for AY 18-19It is that time of the year when we all have to take out time to file the Income ta...
Sec 54EC - A smart way to save capital gains tax
Section 54EC of Income Tax Act, 1961 provides that Capital Gain arising from the transfer of long-term capital asset being land or building or both shall not be...
How to find Date of Birth from PAN?
Date of Birth Finder!Imagine someone who forgot his/her Date of Birth. How would one decide on which day they are supposed to celebrate their birthday? It seems...
Concept of Advance Ruling under Income Tax Act' 1961
Advance ruling has been internationally recognized as �A more or less binding statement from the revenue authorities upon the voluntary request of a priva
Taxability of Interest Free Loan from Employer: ITAT
In a recent decision made by Income Tax Appellate Tribunal, Mumbai in case of Neha Saraf vs. ACIT Range 13(3) [ITA No. 2172/M/2016] it has been decided that wh...
Guide to ITR-1 for the AY 2018-19
Almost after 55days of commencement of FY, Income Tax department made ITR forms available for filing Income Tax Returns for
Analysis of Provisions related to tax on Accreted Income of Certain Trusts and Institutions
The Finance Act�2016 has brought in a new chapter after Chapter XII-EA of the Income-tax Act, with effect from the 1st day of June, 2016, namely: �&
Benefits and Procedure for Registration u/s 80G of the Income Tax Act'1961
We have already discussed 'Benefits of Registration u/s 12A of the Income Tax Act' 1961' and 'Step by Step Procedure for Registration u/s
Filing income tax returns for Residents and Non resident Indians
Government of India needs money for its expenses and development activities which is collected in the form of taxes and Income Tax is probably the biggest sourc...
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