Advance Tax Calculation Process- How to Calculate Advance Tax
Advance tax indicates that income tax has to be paid in advance rather than a lump sum payment done the
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INCOME TAX INFORMANTS REWARD SCHEME 2018
A new reward scheme has been introduced in supersession of the ‘Guidelines for grant of rewards to Informants, 2007’ and
Read moreGift Tax: Are Gifts to Children or Relatives Abroad Taxable?
The gift tax had been abolished about 20 years ago in India. However, certain provisions for making gifts liable to
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Income Tax Department asked by CAG to tighten the inspection of farm income tax exemption claims
Tax exemption claims on farm income have caught the eye of the Comptroller and Auditor General of India (CAG) who
Read morePCIT vs. Paramshakti Distributors Pvt. Ltd (Bombay High Court)-Deletion of enhanced rate of Gross Profit
The appeal was filed by the Revenue in order to challenge the Income Tax Appellate Tribunal’s (“the Tribunal” for short)
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Changes in the TDS provision via the Finance bill,2019 passed by the Lok Sabha and Interim Budget, 2019
Sec 194M (new section): TDS on payment surpassing Rs 50 lakhs to either a Contractor or a Professional by Individual/HUF
Read moreChanges in the TDS provision via the Finance bill,2019 passed by the Lok Sabha and Interim Budget, 2019
Sec 194M (new section): TDS on payment surpassing Rs 50 lakhs to either a Contractor or a Professional by Individual/HUF
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Non-Resident Indians – Which Income/Assets are Taxed?
The main question that arises for any non-resident Indian is that which income is liable to tax, which assets need
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Declaration of Income Tax Returns: Does an NRI have to declare their foreign bank account information?
When it comes to disclosure of overseas accounts of NRI’s, there is a lot of confusion and chaos pertaining to
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Section 195 – TDS for Non-Resident Indians
Section 195 of the Income Tax Act, 1961, is all about the Tax Deducted at Source (TDS) for Non-Resident Indians.
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