Income Tax

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Income Tax

Compliance checks for Sections 206AB and 206CCA โ€“ A n...

Compliance checks for Sections 206AB and 206CCA โ€“ A new functionality introduced by CBDT

Initially, the Budget 2021 included a provision requiring non-filers of income tax returns for the previous two financial years to pay higher TCS and TDS r...

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Income Tax Taxation

All you need to know about Tax Saver Fixed Deposits...

All you need to know about Tax Saver Fixed Deposits

A person can create a fixed deposit account from a period as low as 1 year to as high as 10 years but do you know that 5 year fixed...

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Income Tax

Analyzing the Impact of Delay in Filing ITRs

Analyzing the Impact of Delay in Filing ITRs

The income tax laws have been framed by the Indian government, which governs the taxes that is liable to be paid by the persons who are individuals, HUFs,...

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Income Tax

Incomes to be reported in your Income Tax Return

Incomes to be reported in your Income Tax Return

The Income Tax Return is a form which must be submitted to the Income Tax Department of India. The return contains the information regarding the income of...

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Income Tax

A Brief on Advance Tax Payment, Liability and its relat...

A Brief on Advance Tax Payment, Liability and its related Rules

Advance tax and TDS are the direct tax rules framed by the government in order to have regular inflow of funds to carry out regular economic activities. Ad...

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Income Tax Taxation

Penalty for Tax Evasion

Penalty for Tax Evasion

In India, evading income taxes is a crime. Tax evasion is punishable by severe fines under Chapter XXII of the Income-tax Act of 1961, and in some circumst...

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Income Tax Taxation

Best Methods to Prevent Tax Evasion

Best Methods to Prevent Tax Evasion

Concerning the Income-tax Act of 1961, the words "tax avoidance" are often implemented. Remembering tax evasion is categorically prohibited and punishable...

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Income Tax

Is it Possible to File ITR for the Previous 3 Years Tog...

Is it Possible to File ITR for the Previous 3 Years Together?

If you failed to file ITR of last 3 years and are worrying about the consequences, then you should go through this article which discusses the possible sol...

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