Blogs
Income Tax Slab Rate & Surcharge for AY 2023-24
Individuals, HUF, AOP/BOI & AJP and Non-Resident Individuals Net Income Range Rates Up to 2,50,0002,50,001...
Read MoreResidential Status
In India, the taxability of an individual depends on the residential status for any particular...
Read MorePENALTIES FOR ASSESSMENTS UNDER INCOME TAX ACT
Under the Income-tax Act, penalties are levied for various defaults committed by the taxpayer. Some...
Read MoreNEW TAX REGIME – 115BAC
What is new tax regime under section 115BAC? The government has introduced New 'optional' tax...
Read MoreFOREIGN TAX CREDIT
What is double taxation? Double taxation refers to income taxes paid on the same source...
Read MoreCAPITAL GAINS EXEMPTION (SECTION 54)
Profits or gains arising from transfer of a capital asset are called “Capital Gains”. For...
Read MoreALL ABOUT INCOME TAX ACT DEDUCTIONS
Deductions under Chapter VIA are framed in order to give the benefit to the assessee...
Read MoreAMENDED TECHNOLOGY UPGRADATION SCHEME FUNDS
A credit-linked subsidy introduced by Ministry of Textiles for Small Scale Industries which aims to...
Read MoreANNUAL INFORMATION STATEMENT (AIS)
ANNUAL INFORMATION STATEMENT (AIS) What is AIS? The income tax department has launched the Annual...
Read MoreSection 44AD & 44ADA: PRESUMPTIVE TAXATION SCHEME
The presumptive taxation scheme is designed to provide relief to small taxpayers by eliminating the...
Read MoreSection 194M of Income Tax Act, 1961
What is section 194M? An individual and/or Hindu undivided family (HUF) has to deduct tax...
Read MoreMAXIMUM DEDUCTION OF RS.3.5 LAKHS FOR INTEREST PAID ON HOME LOAN – Here’s how you can claim
Section 80EEA What is deduction U/s 80EEA? The section provides an Interest deduction of Rs....
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