Income Tax Articles

New Inventory Valuation guidelines under Income Tax

Vivek Jalan 14 October 2023 at 09:07

The Finance Act 2023 has taken a major step forward by introducing the concept of inventory valuations by Cost Accountants in specific cases, as granted by Section 142(2A) of the Income Tax Act.

ITR requirement for loan purpose

Sparsh Wadhwa 13 October 2023 at 09:09

Income Tax Return (ITR) is an important document that reflects an individual's income, taxes paid, and other financial information. Many banks and financial institutions require ITR documents to process and approve loans.

Section 192: TDS on Salary

Mitali 12 October 2023 at 17:02

In accordance with Section 192 of the Income Tax Act, 1961, employers are required to deduct TDS (Tax Deducted at Source) from the salary income of employees.

TDS on Rent u/s 194I, 194IB and 194IC

Mitali 12 October 2023 at 13:27

TDS (Tax Deducted at Source) on rent refers to the deduction of a certain percentage of tax by the tenant before making a rental payment to the landlord. The tenant deducts TDS and deposits it with the government. This ensures that the government receives tax revenue on rental income and prevents tax evasion.

RBI with powers allocated under section 35A

Jatin Pal 12 October 2023 at 10:34

Section 35A of Banking Regulation Act, 1949 gives power to RBI to give directions to Banking Companies or Banking Company, as the case may be. The Banking compa..

FAQs: View and Submit Income Tax Compliance

CA Ruby Bansal 11 October 2023 at 16:15

View and Submit Income Tax Compliance

PAN Card Correction

Mitali 11 October 2023 at 15:16

PAN card correction, updating details, and applying for a duplicate can be done online or offline. For online processing, visit the official Income Tax Department website, fill the required form, upload documents, and make online payment.

All You Need To Know About Form 10BD

Ishita Ramani 10 October 2023 at 14:06

This article will delve into the intricacies of Form 10BD, its applicability, and the due date for filing it.

Streamlined Lower TDS Procedure: Online Consumption Statement

Vivek Jalan 10 October 2023 at 14:06

Procedure for Lower TDS u/r 28AA streamlined; Consumption Statement to be available online to deductors

Strategic International Tax Planning Solutions: Your Guide to Effective Tax Management

Pranab Banerjee 07 October 2023 at 09:13

Discover the best strategies for international tax planning solutions in this comprehensive guide. Learn how to optimize your tax situation and protect your finances.