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Savvy Midha

"Savvy Midha holds the degrees of Bachelor of Commerce(honors), LL.B and Company Secretary. She is an experienced Legal and Financial writer with expertise in research, drafting, and copy-writing."

Oct 26 2019

The Implications and Restriction Prescribed Under Section 119

The Income Tax Act, 1961, prescribes the time limit in the form of due dates for filing of the return, payment of advance tax, a deposit of TDS, etc. If...

Oct 25 2019

The Impact of Section 44AA and 44AB of the Income Tax Act

Sections 44AA and 44AB were introduced for simplifying the tax compliances of people in business & small professionals. These sections prescribe minimum agreements such as maintenance of books & tax...

Oct 24 2019

Read About the Provisions and Exemptions Under Section 14A

Tax is the primary source of revenue for Government in India, and thus, various forms of income are taxable under the purview of the Income Tax Act[1]. However, individual incomes...

Oct 23 2019

Provisions Under Section 11 of the Income Tax Act

Any income earned by a Charitable or Religious Trust is exempted from the purview of taxation under Section 11 of the Income Tax Act. This section provides that such charitable...

Oct 19 2019

Section 9 of the Income Tax Act, 1961 – Income Deemed to Accrue or Arise in India

As per Section 9 of the Income Tax Act, 1961, certain incomes are considered to have been earned in India even if they accrue or arise outside India. Indian Income...

Oct 18 2019

Read Details About Section 13 of the Income Tax Act, 1961

Taxation of a charitable trust is governed under Sections 11, 12, 13 of the Income Tax Act, 1961. Section 11 and 12 contain the provisions of conditions to be fulfilled...

Oct 17 2019

Implications of Form 15CA and Form 15CB

In the present times of globalisation, there are the least restrictions imposed on businesses due to which they are spreading around the world with huge international transactions on a daily...

Oct 09 2019

Read about the Penalty for Late Filing of ITR

Income Tax Return (ITR) is a statement that is filed every year by a taxpayer disclosing information about his/her income and applicable tax liability. ITR is furnished by the taxpayer...

Oct 04 2019

Understanding Advance Tax and Penalty Under Advance Tax

Advance Tax is applicable on every self-employed businessperson, professionals, freelancers, whose income falls within the jurisdiction of Income Tax Act, 1961. Any taxpayer, including Non-Resident Indians, who have their income...

Oct 03 2019

The Concept of Share Valuation of Companies

The valuation of shares involves finding out the value of a company's shares. The share value of the listed entity whose shares are floating and traded on the stock market...

Oct 01 2019

Read About the Procedure for Appeal Under The Income Tax Act

The Constitution of India provides a guarantee of fundamental rights to every Indian citizen with the Procedure for Appeal for redressal of grievances. The right to appeal for the redressal...

Gratuity: Definition, Eligibility, Calculation, and Exemption – A Complete Overview

Payment of Gratuity is governed by the provisions of the “Payment of Gratuity Act, 1972”. Gratuity is a monetary benefit given to the employee apart from the regular monthly salary...

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