Income Tax Articles
Changes in ITR Forms for AY 2018-19
Important changes or additional disclosures brought out in new set of ITR forms released by Income tax department for AY 2018-19 Sl. No ITR Form...
New ITR IV: 10 new additional reporting requirements
Recently the government has notified the new ITR IV forms for the current year filing. like any other time, this time too the ITR IV comes with the series of ne...
Section 9 : Income deemed to accrue or arise in India
Section 9 of Income Tax Act , 1961The Indian Income-tax Act provides for levy of income-tax on the income of foreign companies and non-residents, but only to ...
Cash gift and restriction on cash transaction
MEANING OF GIFT56(2)(vii) is applicable only when gifts are received by Individual and HUF. Donor or Donee may be Resident or non Resident. As per the Income Ta...
Obtain non/lower Tax deduction certificate under Sec 197 for business
The provisions of Income-tax act impose an obligation on customer (i.e., recipient of service) to withhold certain portion of payment as tax deduction at source...
Lesser known Tax deductions which can be saved
When it comes to tax-saving instruments, many of us stop with the Rs1.5 lakh deduction under Section 80C. But there is a lot more you can do to lower your taxes...
Income tax slab rates for the AY 2018-19
1.Income Tax Rate for Individuals:1(i).Income tax slab rates for Individuals less than 60 years
Cheque dishonoured: A step-by-step guide for legal recourse
The dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both.Cheques are used in almost...
Triple Taxation under IT Act after introduction of sec 115BBDA
The implied policy of the Indian Government is to avoid double taxation on income from same source and DTAAs with various countries are model examples of this p...
Accounting for Interest incomes, accrued and TDS on fixed deposits
I am writing this article to spread knowledge on how to account for Interest Income on Fixed Deposits and the Interest Accrued thereon for the year end cases.
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