Income Tax

Income Tax Clearance Certificate: Recent CBDT’s Update on ITCC

Ram Sharma / August 21, 2024

Income Tax Clearance Certificate (ITCC) is a document which states that an individual has no outstanding pending tax liabilities or […]

Capital Gains Tax

Long Term Capital Gain: Tax Choices on Immovable Property

Chaitra Seetharam / August 19, 2024

Long-term capital gain mean arising from the transfer of long term capital asset. What is a long-term capital asset? A

Income Tax

ITR Refund Scam: Beware and Safeguard Your Wealth

Ayushi Dixit / August 17, 2024

ITR Refund Scam messages have been seen nowadays beware of this scam as fraudsters try to trick people by providing

GST

Fake GST Registrations: Second all-India drive from 16th August

Ram Sharma / August 14, 2024

Fake GST registrations are being used to fraudulently pass on input tax credit to unscrupulous recipients by issuing invoices without

Income Tax

Section 194T: New TDS Rules on Payments To Partners Of A Firm

Ram Sharma / August 10, 2024

Section 194T is a newly inserted for TDS deduction proposed as per Clause 62 of Finance (No. 2) Bill, 2024.

Income Tax

TCS On Car Purchase: Simple Breakdown of the Rules

Ram Sharma / August 3, 2024

TCS on car purchase is a provision under the Income Tax Act where dealer or sellers are requires to collect

Income Tax

Salaried Employees to Save Upto Rs 17500 with New Tax Changes

Ram Sharma / July 23, 2024

Salaried employee can save up to Rs 17,500 under new tax regime while filing income tax return due to the

Income Tax

Seventh Proviso to Section 139(1): Mandatory ITR Filing for High Value Transactions

Ayushi Dixit / July 22, 2024

Seventh Proviso to Section 139(1) of the Income Tax Act, 1961, added with effective from 1st April 2020. It mandates

Income Tax

TDS on Contractor: Key Insights into Section 94C of IT Act

Priya Mulukutla / July 1, 2024

TDS on Contractor is a tax mechanism where the payer deducts a certain percentage as tax when making payments to

GST

Aadhaar Authentication for GST registration: Enhancing Security

Ram Sharma / June 29, 2024

Aadhaar Authentication for GST registration is introduced by the government to verify the identity of individuals or businesses applying for

Income Tax

E-Tax Payment: How to Pay Tax online on the Income Tax Portal?

Ayushi Dixit / June 21, 2024

E -Tax Payment allows taxpayers to remit their taxes online by electronically through authorized channels, such as internet banking, mobile

Income Tax

Gratuity Calculation Formula : Step by Step Guide with Example

Priya Mulukutla / June 19, 2024

Gratuity is a statutory benefit paid to the employees as a token of appreciation for their service to the organization.