Interest Expenses – Deduction and ITS Assessment under Income Tax Act: The Income-tax Act, 1961 (hereinafter “the Act”) provides detailed provisions to claim a deduction
Income Tax Assessment Procedure. Types of Assessments as per income tax act.We all know that every assessee whose income exceeds the Basic Exemption Limit is
Additional Depreciation: Here you get information about What is the percentage of additional depreciation and what are the conditions for the allowability of the same.
Situations in which Income of Previous year is taxed in the P.YGenerally, income of the previous year is taxed (i.e., assessable) in the immediately following
TDS on Non residents Section 195 – Any person (resident or non-resident) responsible for paying any sum chargeable under this Act (excluding income chargeable under
Depreciation rates as per companies act 2013: Depreciation Rate Chart As Per Companies Act 2013.. Latest New Depreciation Rates issued by MCA (Ministry of corporate
Aadhaar Card and PAN Card Link: it has become mandatory to quote and link Aadhaar number while filing income tax return (ITR), unless specifically exempted.
E-Proceedings of Income Tax (Faceless Assessment): Welcome to the New Era of ‘Faceless’, ‘Jurisdiction-less’ and hopefully ‘Corruption-less’ Eassessment. E-proceedings is an electronic platform for conducting
Income from House Property at a glance:How To Compute “Income From House Property”Basis of Charge [Section 22], When property income is not chargeable to tax?,
Depreciation rates as per the Income Tax Act (For F.Y 2019-20 and AY 2020-21).Depreciation Rate Chart As Per Income Tax Act. Download Depreciation Rate Chart
Assessment Year (AY) and Previous Year. What isAssessment Year (AY) and What is Previous Year (PY).Meaning of ‘Assessment Year’ and ‘Previous Year’ under Income Tax.
Commission payable to foreign agents: Here we are providing complete details about Commission payable to foreign agents is Taxable or Not Taxable. In this article
Know About Mediclaim Policy and Deduction Under Section 80D. Section 80D provides deduction to an individual or a Hindu undivided family towards medical insurance premium
TDS on payment to contractors Under Section 194C: Any person responsible for paying to any of the contractor for carrying out any work (including supply
Double Taxation Avoidance Agreements. What is Double Taxation Avoidance Agreement (DTAA). Find Complete Details forDouble Taxation Avoidance Agreement like – What is DTAA,Benefits of DTAA,How
Section 43B Deductions Based Actual Payments,As per section 43B of income tax there are certain expenses which can not be claimed as deduction unless they
Documents Required for PAN Card Application 2021: PAN was introduced to facilitates linking of various documents, including payment of taxes, assessment, tax demand, tax arrears
Section 194J – TDS on Professional Services or Technical services. TDS is required to be deducted by the service receiver to the service provider under
Prevention of Money Laundering Act, 2002. Money Laundering can be understood as a process employed by criminals to masquerade the possession and regulation of money