Category: Income Tax

What is TAN Number and How to apply for TAN No.

TAN Number is a 10 Digit Alphanumeric Number and is used as an abbreviation for Tax Deduction and Collection Account Number.  Every Assessee liable to deduct TDS is required to apply for a TAN No. and shall quote this number...

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TDS Payment Online: Procedure, Due Date & Interest on Late Payment

TDS Payment is liable to be made by any assesse who has deducted TDS at the time of incurring any expenditure. The Due Date for TDS Payment is separate for Govt. and Non-Govt. assessee’s as mentioned below Due Date for...

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Download Income Tax Form 26AS online

Form 26AS is a Consolidated Tax Credit statement issued to a Taxpayer and shows the Income Tax that has been deposited with the Govt with respect to that Taxpayer and is required to be issued under Section 203AA of the...

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Transfer Pricing: Methods of Computation of Arm’s Length Price

The Provisions of Transfer Pricing have been introduced to ensure that income arising from an International Transaction between Associated Enterprises shall be computed having regard to the Arm’s Length Price. Any cost or expense allocated or apportioned between two or...

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Grossing Up & Computation of Income Tax Liability of Expats in India

In the previous article I explained about the concept of taxation of expatriates. (Refer article – Taxation of Expats in India) Now I with explain with an example how to compute the tax liability for an expatriate. Taxation of expatriate...

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Taxation of Expats

An Expatriate or expat is a person residing in a country, temporarily or permanently, which is different from his/her home country or you could say different from a country in which he/she is a citizen. This term is broadly used...

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Income Tax Raid to be conducted only after furnishing the Contact Details of the Boss

This may sound strange but the fact of the matter is that CBDT has released a Circular which mandates the Officer conducting an Income Tax Raid to furnish the contact details of his senior before conducting the Raid. While releasing...

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