Category: Income Tax

15 Most Effective Tax Saving Tips For Entrepreneurs

Do proper recording of cash expenses. Deduct TDS always – If required. Take Housing...

Presumptive taxation under section 44 AD of Income Tax...

Presumptive income shall be higher of the following: i. Sum equal to eight per cent...

“Most awaited and must required Gift by Indian Government...

After 1st October 2019, the corporate tax rate brought down to 22% from 30%, effective...

FAQs on Presumptive Taxation under section 44AD, 44ADA,...

To give relief to small taxpayers from the tedious job of maintenance of books of...

Assessment Procedure in Income Tax - Part II

(1) Self-assessment u/s 140A –covered in part I (2) Summary assessment u/s 143(1)...

Assessment Procedure in Income Tax – Part I

(1) Self-assessment u/s 140A (2) Summary assessment u/s 143(1) (3) Scrutiny assessment...

Appeals & Revision – provisions in Income Tax

First appeal - To commissioner (Appeals) - u/s 246A Second appeal - To ITAT - u/s...

Specified domestic transactions and provisions of transfer...

Section 92BA deals with specified domestic transactions and provisions of transfer...

Settlement of cases - in Income Tax

The Central Govt. has constituted a Commission which is called Income-tax Settlement...

Taxation of Non Residents (NRI)

Non- resident assessee in India is liable to pay tax on the following incomes: a)...

Collection and Recovery provisions - Income Tax

Assessing officer shall serve upon assessee a notice of demand in form no. 7, when...

Taxation of Business Trust and Unit holders of such business...

There are two types of business trust we will discuss here namely REITs (Real Estate...

Business Reorganisation - Tax Impact

Business Reorganisation is basically of four types: 1. Merger 2. Demerger 3. Slump...