Taxation

Finance plays a significant role in every business. In many circumstances, the own finances of an individual are not sufficient to fulfill the requirements...

Finance Bill, 2020 has inserted a new TCS provision Section 206 (1H) of the Income Tax Act, 1961, to charge TCS on sale of goods, which was to be effective...

A taxpayer must pay the taxes timely and also filing of the income tax returns assures that the Government has the money for public welfare and public bene...

Section 80TTA of the Income Tax Act provides the privilege to claim deductions on savings accounts deposits that are held in a bank, post office, or co-ope...

The Income Tax Act, 1961 allows deductions from the total gross income, before charging the tax, in case medical expenditure has been made on the treatment...

The current FY 2019-2020 closed on March 31 as usual, and the new financial year 2020-21started from April 1, 2020. The Government on analysing the lockdow...

Various deadlines related to Income Tax which was to end on 31st March have now been extended to 30th June, giving respite to the taxpayers. Finance Minist...

Deferred Tax Asset or Liability is an integral part of the financial statements. Adjustments made in the year-end in the books of accounts affect the incom...

The Institute of Company Secretaries of India or commonly referred to as ICSI provides guidelines on auditing standards. The primary aim of ICSI auditing s...

Whenever the gross annual income exceeds the threshold of basic exemption limit of Rs 2.5 lakh, then that earning individual has to file an ITR (Income Tax...

The outbreak of coronavirus or commonly known as Covid-19 has impacted the lives of both, general citizens as well as the trade and businesses. In this sit...

A home loan can help an individual in saving tax as per the provisions provided under the Income Tax Act, 1961. After the announcement of the Budget 2020 b...