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Articles by Shivam from Taxblock

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Section 64 - Clubbing of Income under the Income Tax Act

  Shivam from Taxblock    22 October 2021 at 09:42

Understanding section 64 of Income tax Act - What is meant by clubbing of income and what are the different scenarios under it

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Posted in Income Tax |   126 Views


Income from other sources

  Shivam from Taxblock    21 October 2021 at 09:43

Incomes which does not fall under any of the other head will fall under the head of 'Income from Other Sources'.

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Posted in Income Tax  1 comments |   1167 Views


Income from House Property

  Shivam from Taxblock    21 October 2021 at 09:43

A house property can be anything which is attached to the land and it can be your house, your office, or can be a shop and also can be a building.

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Posted in Income Tax |   918 Views


Income from Capital Gains

  Shivam from Taxblock    20 October 2021 at 09:54

Any profit or gain which is earned by transferring the capital assets which was held for investment will be taxable under the head of ‘Income from Capital Gain’. The gain can be earned from any of the Short Term Capital Asset and Long Term Capital Asset. When Capital Asset is transferred then only you can earn Capital Gain.

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Posted in Income Tax |   822 Views


Deduction under Income Tax

  Shivam from Taxblock    20 October 2021 at 09:54

Section 80C is the most favorite section of all the income tax payer because it allows to reduce the tax liability of the tax payer by making tax saving investment and collect eligible expenses. It allows a deduction of maximum Rs. 1,50,000 every year from the total income.

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Posted in Income Tax |   825 Views


Income from Salary | An analysis

  Shivam from Taxblock    19 October 2021 at 09:48

Income from salary is the remuneration that is received by an individual who is rendering services under any contract which is taken by him. The contract should be under employment.

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Posted in Income Tax  1 comments |   1650 Views


Rebate and Reliefs under income tax

  Shivam from Taxblock    19 October 2021 at 09:48

Rebate under section 87A of the Income Tax Act is a provision that helps taxpayers to reduce their tax liability. This section is available to people whose income do not exceed Rs. 5 Lakhs.

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Posted in Income Tax |   972 Views


Who Needs A GST Registration & Mandatory Documents For Online GST Registration

  Shivam from Taxblock    15 October 2021 at 09:55

Any person who is engaged in inter or intra state supply of goods or services and whose aggregate annual turnover is more than Rs 20 Lakh is binding to obtain a GST registration.

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Posted in GST |   5577 Views


What is GSTIN?

  Shivam from Taxblock    15 October 2021 at 09:55

Every business that operates in a state or union territory is assigned with a unique Goods and Services Tax Identification Number, which is generally known as GSTIN.

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Posted in GST  1 comments |   2829 Views


Notices and appeal under GST

  Shivam from Taxblock    14 October 2021 at 10:23

A notice can be named as a show cause notice, scrutiny notice or demand notice. This depends on the objective of the notice and the gravity of default or any action which is required from a taxpayer.

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Posted in GST  2 comments |   5268 Views