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Income Tax

Learning » Taxation » Income Tax

Nov 07 2020

Liable for Prosecution- Income Tax offences

The penalties are incurred due to the default of the taxpayer. There are many activities that can further attract the prosecution under the Income Tax act....

Nov 02 2020

Educational Institution: Income Tax Perspective

Income tax on educational institutions often remains the most controversial topic. The nature of the educational institutions such as high-end educational...

Oct 31 2020

Cash withdrawal of more than 1 Crore attracts TDS

The Central government to reduce cash transactions and move one step forward towards the cash-less economy brought out a new amendment by introducing Secti...

Oct 30 2020

Tax implication on the small business

Income tax laws are professed to have a complex structure in India as there are number of claims, deductions, disallowance and exemptions made under the la...

Oct 08 2020

Income Tax Appellate Tribunal (ITAT): Brief Overview...

The Income tax appellate tribunal is a quasi judicial authority where an affected party by the orders of the income tax authorities can appeal. An appeal c...

Sep 30 2020

Key Implications of the Taxation Bill 2020 on ITR Filin...

Every individual would have to file tax returns. If the individual has to file tax returns then there would be a deadline for filing the respective tax ret...

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Sep 29 2020

Income Tax Updates: April 2020 to September 2020

The year 2020 has been beneficial for taxpayers as well as companies. The finance and income tax ministry has come up with many amendments which ease the b...

Apr 24 2020

Penalty for Breach of Section 269SS of the Income Tax A...

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

Apr 15 2020

A Complete List of Penalties under the Income Tax Act...

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...

Apr 14 2020

Deduction on Savings Accounts Deposits under Section 80...

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...

Apr 14 2020

Tax Deductions for Disabled Persons under Section 80U:...

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...

Income Tax Updates –Deciphering, News, Information, N...

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...

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