Category: Income Tax

An Assessee is liable to get his Tax Audit done by a Chartered Accountant mandatorily, if in the previous year, The Person is carrying on business and his Total Sales/Turnover...

In some cases, it has been observed that there is a TDS Mismatch in Form 26AS and in Form 16/ Form 16A which should not happen. The TDS amount reflected...

Section 44AA prescribes the persons who are mandatorily required to maintain books of Accounts for Income Tax purposes. As per Section 44AA, any person carrying on any of the following...

The Finance Act 2014 which was presented by Arun Jaitley has brought in several amendments one of which is Section 56(2)(ix) which deals with tax treatment of advance forfeited on...

Update: Dividend Distribution Tax has been abolished from FY 2020-21 onwards. With this amendment, the dividend is taxable in the hands of the recipient and no Dividend Distribution Tax is...

There are various Incomes which are exempted from the levy of income tax in the hands of the person who is receiving the amount. As these incomes are exempted from...

With Debt Funds, Bonds & Debentures getting popular among the investors, and investors starting to shift from Fixed Deposits to Debt Funds, tax on debt funds/ bonds/ debentures is something that...

Challan No/ ITNS 280 is required to be used for the payment of Income Tax. This payment of Income Tax may be in the form of Advance Tax, Self Assessment...

ITR Forms from AY 2014-15 onwards require the taxpayers to disclose whether any transaction has been made with a person located in jurisdiction notified under Section 94A of the Income...