Section 87A of the Income Tax Act offers tax reduction to resident individuals when total income falls within specified limits. […]

TCS on the sale of scrap means that the seller collects tax from the buyer at the time of sale.

F and O – Futures and Options is a non speculative business which are types of financial derivatives used in

Under Section 194I of the Income Tax Act, TDS deducted on hotel room payments is considered as “rent” when it

Section 80E of the Income Tax Act allows a tax deduction on the interest paid on education loans for higher

Under section 244A of the Income Tax Act, interest on tax refunds is payable at 0.5% per month from either

An income tax refund is the amount paid by the income tax department when the amount paid in taxes (through

Overview Advance tax payment in India is a system of paying income tax in installments throughout the financial year as

Section 271H of IT Act related to penalty if a person fails to file TDS or TCS returns/statements within the

Overview Form 26QB is a challan-sum-statement used to pay TDS while purchasing an immovable property in India. A buyers must