In Income Tax Act, 1961, Section 10 is specifically meant to explain all types of Income received which do not form part of Total Income. This section plays an important role in computation of taxable income. So as to understandContinue reading… Income which do not form part of Total Income
Total income of an assessee cannot be computed unless we know his residential status in India during the previous year. So you must learn about what is all written in the residential status in the Income Tax Act of India.Continue reading… Determination of Residential Status
This post is meant to learn various important concepts of Taxation like Definition of Person, Assessment Year, Previous Year, etc. It is important if you a law aspirant or want to excel in Taxation. So must read till end. Person:Continue reading… Some Important Concepts of Taxation you must know!
There are many types of Forms given in Income Tax Act, which are practically difficult to recognize. However in actual life, it is greatly used for various compliance purposes. So for better grasp of knowledge at one place, I haveContinue reading… Compiled List of various Forms as given in Income Tax Act, 1961
Financial Budget 2018 brought many kinds of amendments in taxation. Although there was no major relief given to middle class people. Still having a good knowledge of some specific changes from 1st April onwards is important for everyone! In BudgetContinue reading… Changes in taxation from 1st April 2018 everyone should know!
Tax Deducted At Source is the tax deducted by deductor before paying any amount to deductee. It is a kind of Advance Tax where the amount of tax is paid periodically as mentioned in the Act. TDS involves two parties:Continue reading… Types of Tax Deducted at Source(TDS)
Many of the people are often confused when they analyze their income tax return, specially in terms of interest penalty charged on tax. One of the baffling interest penalties charged on tax are u/s 234A, 234B and 234C of IncomeContinue reading… Difference between interest charged under Section-234A, 234B and 234C