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Income Tax Taxation

Collection of tax on sale of goods (FAQs)

Collection of tax on sale of goods (FAQs)

The Finance Act recently inserted sub-section (1H) in section 206 C. As per this provision, seller is required to collect tax at source from the amount obt...

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Income Tax Taxation

Advance tax computation if dividend income is earned du...

Advance tax computation if dividend income is earned during the year

The Finance Act, 2020 abolished the Dividend distribution tax and adopted the conservative system of taxation wherein the dividend declared, distributed, o...

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Income Tax Taxation

All you need to know about Income Tax Slab Rate for FY...

Income Tax Slab Rate for FY 2021-22

Income tax is a direct tax that applies to individuals earning income based on salary & other sources. The Finance Minister presents in the budget inco...

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Income Tax Taxation

Faceless Hearing under Income Tax Act

Faceless Hearing under Income Tax Act

With the impact of Covid-19 across countries, the use of digital communication has accelerated. India has adopted faceless interactions through digital mea...

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Income Tax

All about Section 269ST of Income Tax Act, 1961

Section 269ST of Income Tax Act, 1961

Black money is the biggest issue faced by the Indian economy. To curb the problems raised by black money, the government has inserted Section 269ST in the...

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Income Tax

How to file the Form 10BA of Income Tax?

Form 10BA of Income Tax

Form 10BA is a declaration filed by the taxpayer to claim the deduction under section 80GG of the Income Tax Act for the rent paid on rental property. This...

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Income Tax Taxation

How to Register on TDS TRACES Website?

TDS TRACES

The Income tax department introduced the concept of TDS TRACES, wherein the taxpayers and deductors can view, download the Challan details, rectify the mis...

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Income Tax Latest News

Income Tax Rules Changes from April 1 2021: Here’s al...

Income Tax Rules Changes from April 1 2021

The new Financial Year begins on 1st of April every year and ends on 31st March of the following year. Every year on April 1, the consumers witness some si...

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