Taxation

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Startup Taxation

541 Startups Get Angel Tax Exemption: DPIIT Secretary...

Angel-Tax-Exemption

Recently the government has granted angel tax exemption to 541 startups. Mr Ramesh Abhishek, secretary of “Department for Promotion of Industry and Inter...

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Income Tax Taxation

All About Salary Income, Perquisites, and Allowances un...

Salary Income

What is Salary Income? Salary is the amount accrued and is payable to an individual periodically for the services rendered as per the express or implied co...

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Income Tax Taxation

Section 201 of the Income Tax Act,1961 – Interest on...

Section 201

As all are aware that the Income Tax Department is the governing body that regulates the income tax collection in India. If liability arises to pay a tax t...

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Income Tax Taxation

Income Tax Provisions for Clubbing of Income

Clubbing of Income

There are many situations in which you have to club income with someone else. Clubbing provisions are governed by Section 64 of the Income Tax Act,1961. Cl...

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Income Tax Taxation

Section 145 of the Income Tax Act,1961

Section 145

Section 145 of the Income Act, 1961 deals with the process of standards which the following persons are required to follow when it comes to non-compliances...

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Income Tax Taxation

Section 40(A) 2: Disallowances of Expenses to Specified...

Section 40(A) 2

Section 40(A)2 of the Income Tax Act provides powers to the assessing officer. In case of expenditure incurred or payment has been made or is to be made to...

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Taxation

Section 44AE of the Income Tax Act, 1961: Presumptive T...

Section 44AE

To simplify the process of the small businesses to carry on their business hassle-free, the Presumptive taxation Scheme was introduced under the Income Tax...

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Income Tax Taxation

Section 143(2) – Notice for Scrutiny and how to Respo...

Section 143(2)

We file Income Tax Return by assessing our income on the basis of income received. However, there are chances of minor or major discrepancies depending upo...

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