Income Tax

In a recent announcement, the Finance Minister of India, Nirmala Sitharaman[1] slashed corporate tax rates. The government reduced the corporate tax rate t...

Income Tax Act, 1961 contains various provisions relating to penalties, fines & interest besides taxation of a taxpayer. Thus, for penalizing the defau...

Introduction In the present era of globalization, there are minimal restrictions on the boundaries for business and their transactions.  Businesses ar...

Section 194-I of the Income Tax Act, 1961 was inserted vide Finance Act, 1994 for the imposition of tax on rent paid or payable by an assessee. This sectio...

Introduction The tax regime of every country is an integral component of its economy since it is one of the primary sources of government funding. In India...

Income Tax Act, 1961 includes the provisions for taxation of any kind of income earned by an individual. Major heads for the categories of income for tax a...

Salaried employees are asked for their investment details of any kind at the start of every financial year by their employer. TDS on Salary is deducted acc...

In case of “Atin Krishna V. Union of India”,at the arrival and departure terminals of international airports the sale or supply of goods at the Duty-Fr...

The Finance Minister notified critical policy updates of India in a recently held press conference. The press conference held as on Friday, August 23, 2019...

Finance Minister Nirmala Sitharaman presented her first Union Budget on 5th July 2019 and added new Section 194N in the present Income Tax Act, 1961. The U...

The Shareholder is the one who invests in the Company by purchasing the shares from the open market or through the transfer of shares. The Company in retur...

There are various queries in the mind of taxpayers ever since the new ITR forms came into effect for the financial year 2018-2019[1] and assessment year 20...