Income Tax

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...

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...

Income Tax is calculated on the taxpayer's total income earned or received during the financial year. An employee’s tax liability might increase on recei...

The Tax Compliance Calendar for March 2020 is provided by the Income Tax and GST departments well in advance. As the end of the financial year 2019-20 is a...

Filing of Income Tax Return is the process of submitting a declaration about the income earned and expenditure incurred by the concerned taxpayer in the pr...

In India, taxes play an important role, as a major part of the government income is formed out of the taxes paid by the citizens. That’s why an individua...

Having been extended multiple times earlier, the income tax department finally comes up with a formal notification dated 13th February 2020 to set up the d...

ESIC is the acronym form for the Employee State Insurance Corporation. This is an autonomous body established by the Ministry of Labor and Employment that...

The Finance Minister (FM), Nirmala Sitharaman, proposed some income tax changes vide Finance Bill, 2020. Some key provisions of the Income Tax Act, 1961, w...

With a view to decrease compliance burden on issuing companies w.r.t. tax deduction certificates and to ease the collection of taxes, the DDT system was in...

A new and simplified income tax regime was proclaimed by the Ministry of Finance on 1st February 2020. The Finance Minister, Nirmala Sitharaman, stated in...

The Union Government in Budget 2020 has proposed a new tax regime by slashing Income Tax Rates. Some changes have been made in the income tax slabs to decr...