Income Tax

Getting gifts from relatives? Learn the tax implications

• Income Tax

Getting gifts from relatives? Learn the tax implications

Manager 10 years ago

NRI liable to pay Income Tax on the income earned in India 2 min read

• Income Tax

NRI liable to pay Income Tax on the income earned in India

Manager 10 years ago

According to the Income Tax Act, 1961 a non-resident Indian is defined as any person who is an Indian citizen or a person having an... Read More

What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A? 3 min read

• Income Tax

What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A?

Manager 10 years ago

The Finance Bill 2013 has incorporated a new section 194-IA in the Income Tax Act. According to the provision TDS at the rate of 1%... Read More

Can DTAA help NRIs to avoid double taxation? 2 min read

• Income Tax

Can DTAA help NRIs to avoid double taxation?

Manager 10 years ago

If you are an NRI and are moving abroad leaving behind sources of income, you need to pay tax on such earnings in India. It... Read More

Interest under section 234 A, B, C of the Income Tax Act 2 min read

• Income Tax

Interest under section 234 A, B, C of the Income Tax Act

10 years ago

Section 234 A, B, C of the Income Tax Act deals with the different penalty provisions for non-payment of Income Tax. Tax should be paid... Read More

On-Line Tax Accounting System Correction Scope and Procedure 3 min read

• Income Tax

On-Line Tax Accounting System Correction Scope and Procedure

10 years ago

The On-Line Tax Accounting System (OLTAS) was introduced in April 2004, for the accounting and reporting of receipts and payments of the Direct Taxes through... Read More

Provision Of Reassessment Under Income Tax Act 1961- PART I 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART I

10 years ago

Reassessment of income as the word suggests is assessing the income of an assessee again even when the assessment has taken place earlier. Such reassessment... Read More

Consequences of Tax Evasion in India 2 min read

• Income Tax

Consequences of Tax Evasion in India

10 years ago

Tax evasion is the unlawful process by which people escape paying taxes. In Tax evasion taxpayers willfully misrepresent their true state of affairs before the tax authorities... Read More

EPF or PPF: Provident Fund As Future Investment Instrument 3 min read

• Income Tax

EPF or PPF: Provident Fund As Future Investment Instrument

10 years ago

The prime motive of the government of any country is to provide the financial stability to all its citizens, especially in their elderly age when... Read More

TDS FAQ regarding Property Sale in India under Section 194-IA 3 min read

• Income Tax

TDS FAQ regarding Property Sale in India under Section 194-IA

Aditijh 10 years ago

1.    What is Withholding tax?  According to the new provision, 1% TDS has to be deducted on the purchasing price by the buyer of the... Read More