What is Income Tax Clearance Certificate and When is it issued?
Income Tax Clearance Certificate is a document issued by the Government of India validating that the person has duly paid all the taxes due and has no pending liability. When… Read More
Income Tax
How safe are your Bank Lockers?
There are some valuables that we think are the safest in a bank locker. Most people have this opinion that your valuables are 100% safe when kept in a bank… Read More
Is Tax levied on Sodexo Meal Coupons?
Yes, the free meal coupons like Sodexo are liable to tax. Our Income Tax law treats it as a free perquisite given by the employer to its employees and would… Read More
Tax on PF Withdrawal (Explained with Charts)
No Tax is levied on the amount deposited and withdrawn from the Provident Fund account. This is because Provident Fund account comes under the EEE bracket i.e. Exempt on Investment… Read More
DVR: Issue Equity Shares without diluting your Control
Did you know, that there are equity shares that offer only dividends and an opportunity for price appreciation but without the voting rights. This means you get to issue equity… Read More
Difference between Statutory Audit, Tax Audit & GST Audit
Most enterprises are subject to various audits throughout their financial year. But one common question that arises in the mind of every such entrepreneur is that why are they subject… Read More
What are ESOPs and Tax on Sale of ESOPs? (with Examples)
ESOP stands for Employees Stock Option Plan. As the name suggests, this is an option given to the employees to become the shareholders of the company. This option can be exercised… Read More
TDS on Purchase of Property from NRI – Section 195
When purchasing a property from NRI – TDS is required to be deducted on Capital Gains and not on the Sale Price. The Procedure, TDS Rate and compliances are very… Read More
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
Small dealers and Composition Scheme : Right from the pages of GST Law
“Composition means componere, meaning “put together”. One of the feature of Indirect Tax laws is that in order to provide a comfort to assessee from complying with the requirement of… Read More