Author name: Ram Sharma

ICAI has introduced a new financial statement format for non-corporate entities such as proprietorship firms, individual businesses, Limited Liability Partnerships […]

Section 44BBC is a new rule in the Income Tax Act which has been designed to help non-resident cruise ship

Income Tax Slabs The new income tax regime has been made the default tax regime. The slab rates are: Income

When a taxpayer passes away, their legal heir or representative is responsible for filing their ITR as the income earned

What is Agricultural Income? The term “Agricultural Income” is defined in three parts under IT Act u/s 2(1A)(a), 2(1A)(b), 2(1A)(c)

New Tax Regime was introduced in the Finance Act 2020 and effective from FY 2020-21. Section 115BAC offers a simplified

Section 194Q, introduced via the Finance Act 2021 and effective from 1st July 2021, mandates Tax Deducted at Source on

Short-Term Capital Gain are the profits which arises when you sell a capital asset (such as stocks, mutual funds, or

Section 194LA of the Income Tax Act 1961 is a provision that deals with the deduction of Tax Deducted at

The first step is choosing between the new tax regime and the old tax regime, as this decision impacts your