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Income Tax Taxation

What is the Difference between PAN and TAN?

difference between PAN and TAN

To understand the difference between PAN and TAN, first, we will discuss “What is PAN?” and “What is TAN?” What is PAN? PAN means Permanent Account...

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Income Tax Taxation

Undisclosed Foreign Income and Assets

Foreign-Income

In the year 2015, the Government of India has passed act no. 22 of 2015 to deal with the problem of the Black Money that is undisclosed foreign income and....

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Income Tax Taxation

Hindu Undivided Family – A Way to Save Income Tax...

Save Income Tax

Country people are always been encourage with a number of benefits and awards to file and pay Income tax. After all, it is a small contribution of each peo...

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Income Tax Taxation

Income Tax Deduction for Medical Expenses

Medical Expenses

The provision of Income Tax has provided relief to its taxpayer in certain limit and condition for medical expenses incurred for them. It is pertinent to n...

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Income Tax Taxation

Penalty in Case of Misreporting of Income

Penalty

Income needs to be fairly disclosed to the Government to determine actual tax liability and to discharge the general liability of tax paying resident of In...

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Income Tax Taxation

Analysis of Tax on Exempt Income

Exempt-Income

Analysis of Tax on Exempt Income u/s 14A Read with Rule 8D under Income Tax Act, 1961 It is well established governing principle of income tax act where it...

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Income Tax Taxation

Investment in Property under Construction Not To Be Tre...

Property

Why will Investment in under-construction property not be treated as Purchase? As per section 54 of the Income Tax Act, 1961[1] acquisition of new flat in...

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