Income Tax

Section-44AD

Section 44AD & 44ADA: Income of Business – 8%, Profession – 50%

To reduce the burden of compliance of small taxpayers, the govt provides for a scheme of Presumptive Taxation which is very easy to understand and comply with. Under the scheme… Read More

tax on sale of shares

Advance Tax Payment: Due Dates and Interest on Late Payment

If the Income Tax Liability of any taxpayer is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year… Read More

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Is Income from Shares – Business Income or Capital Gains?

A lot of people trade and invest in stocks – some do it part-time as an investment and some do it full time as a business. From the point of… Read More

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Compliance Notice: Non-filing of ITR – Reasons and How to Respond

An Income Tax Return is mandatorily required to be filed if the Total Income is more than the minimum amount which is exempted from the levy of tax. In other… Read More

income-tax-intimation

How to deal with Intimation under Section 143(1)(a) of Income Tax

As the name states, an Intimation under Section 143(1) is only an Intimation and not a Scrutiny/ Assessment Order. Intimation under Section 143(1) is an auto-generated letter by the computers… Read More

Section-94A-Income-Tax

How to submit ITR 1 Form (SAHAJ) online in 2017

ITR 1 Form (also known as Sahaj) is one of the most popular form for filing Income Tax Returns because it applies to most of the Salaried Employees. However, it… Read More

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All About GST on Export of Software Service

Goods & Services Tax (GST): GST is the complete mechanism to bring in numerous indirect taxes under one umbrella and thus rationalising the whole tax system. GST engulfs Central Goods… Read More

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Income tax e-filing: Questions you probably have in your mind

The time to file your income tax return is here! You must be struggling with many doubts and certain questions too. We have listed some common questions people quite often… Read More

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7 Myths about Term Life Insurance

We have been inclined to be financially intelligent and always seek a tangible return benefit if we spend money anywhere, even if it is for safety. However, there are few… Read More

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How to file Income Tax Return (ITR) after Death of Taxpayer?

If a person dies during the year, and has earned some income during that year, it is necessary to file income tax returns even after his death. As per the… Read More

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