Income Tax Articles

Filing ITR-U return in India

FCS Amit Kumar Sharma 23 January 2023 at 09:21

The ITR-U return is a great facility provided by the government to benefit taxpayers who have failed to file their ITRs on time. This step taken by the government will help taxpayers to stay compliant with the tax laws and also help them to avoid any penalties or interest.

Section 194IA of IT Act, 1961 - TDS on Sale of Immovable Property

CA Piyush Agarwal 18 January 2023 at 13:20

Section 194IA is inserted by Finance act 2013 and it is applicable from 01st of June, 2013.

Uncovering Tax Benefits of Startup India u/s 56 of Income Tax Act

FCS Amit Kumar Sharma 17 January 2023 at 10:37

In this article, we will discuss the various tax benefits available under Section 56 of the Income Tax Act for startups in India.

Startup India: Impact of 80IAC of IT Act on Startups

FCS Amit Kumar Sharma 16 January 2023 at 08:15

Section 80IAC of the Income Tax Act provides tax benefits to eligible startups for their first three years of operations.

Why Registered Valuer should be included for Valuation under Income tax Act?

CMA Harshad S Deshpande 12 January 2023 at 12:46

Valuation refers to calculation of value of the business/underlying asset/liabilities of entity.

All about Non-resident taxation

Venkat Raj 11 January 2023 at 14:34

Any payment made to non-resident or to a foreign company whereby tax has to be deducted under Section 195 of Income tax Act ('IT ACT'). There are lot of complexities in dealing with this aspect which will be discussed in this missive.

Transfer Pricing in India: A Comprehensive overview with key case studies

Hardik Parikh 10 January 2023 at 08:46

In India, transfer pricing is regulated by the Income Tax Act 1961 and the rules prescribed thereunder. The Central Board of Direct Taxes (CBDT) is responsible for enforcing India's transfer pricing regulations.

Incidence of Section 112A to be taxed at MMR u/s 115UA of IT Act 1961

Someswar Roy 10 January 2023 at 08:46

Incidence of Section 112A in the hands of unit-holders of a business trust, to be taxed at maximum marginal rate (MMR) u/s 115UA of the income tax act, 1961

Section 195 of Income Tax

Chetan Chauhan 09 January 2023 at 17:44

Section 195 of the Income Tax Act of India pertains to the deduction of tax at source on certain incomes received by a non-resident or a foreign company.

Taxation Of Gifts - Income Tax Act, 1961

FCS Deepak Pratap Singh 09 January 2023 at 12:39

Taxability of gift received by any person, i.e., sum of money or property received without consideration or a case in which the property is acquired for inadequate consideration.