Income Tax Articles

Choosing the Best Tax Regime for an Annual Income of Rs 10 Lakh: New vs Old

CA Naveen Pawnar 20 November 2024 at 08:40

As an individual with an annual income of ₹10 lakh, one of the key decisions you need to make when filing your taxes is choosing between the old tax regime and the new tax regime.

ITR is Statutory Document that must be considered while deciding Compensation

FCS Deepak Pratap Singh 18 November 2024 at 05:14

The ITR (Income Tax Return), which is a statutory document, is required to be considered for the purpose of assessing the income of the deceased, which is inclusive of perquisites and allowances, in the light of judgment rendered by Hon'ble Apex Court in the case of Meenakshi v. Oriental Insurance Co. Ltd.

Documents Required for APEDA Registration in India

Ishita Ramani 13 November 2024 at 06:33

In this article, we shall cover the common documents required for APEDA registration, the eligibility standards and additional documents required for the same.

Updates Related To Revamp of IT Act 1961

CA Umesh Sharma 12 November 2024 at 05:56

On occasion of the 165th year of Income Tax Finance Minister Nirmala Sitharaman ji has announced that the much-awaited new direct tax law would soon be introduced in 2025

Revision TDS Return Online: Process and Advantages

CA Aman Rajput 11 November 2024 at 06:44

If we talk about the frequency, the TDS return may be revised multiple times, which allows taxpayers to make corrections as and when needed. However, it is advisable to avoid excessive revisions to prevent complexities in record-keeping.

Income Tax Act Revamp: An Introduction

Vivek Jalan 08 November 2024 at 06:38

The Committee for Comprehensive Review of the Income Tax Act, 1961 has been now formed under the chairmanship of Mr V K Gupta, Chief Commissioner of Income Tax...

Income from Renting under House Property Income or PGBP

Vivek Jalan 07 November 2024 at 06:43

Income from rental property has different connotations depending on whether it is treated as house property or business income –· Rental income f

Understanding the Option Pricing Method (OPM)

ValuGenius Advisors LLP 06 November 2024 at 06:40

The option pricing method (OPM) is a widely used approach for allocating equity value to various securities within the intricate capital structures of privately held companies.

Benefits of Buying a Flat in Your Wife's Name

Sahil Jaiswal 05 November 2024 at 14:27

Buying a flat in your wife's name can offer various tax benefits and other financial advantages, especially in countries like India, where tax laws provide incentives for female property ownership. Here are the key benefits and things to consider.

Income Tax Appellate Tribunal (ITAT): Laws, Regulations, Procedures and Updates under the New Regime

CA. Brijesh Baranwal 05 November 2024 at 07:04

Let us have a look at the relevant provisions of the Income Tax Act, 1961, and other connected material laws in this regard, so as to understand the complete process of getting benefits and reliefs from this important forum available to a taxpayer who is going through tax disputes with the income tax department.