Income Tax Articles

Why is it essential to determine a person's status as Resident, Ordinarily resident and Not Ordinarily resident under Income Tax Act?

CA. ILA JINDAL 17 May 2023 at 14:23

As we all must be aware about that an individual’s income taxability is depends upon his residential status, which is to be determined on a year to year basis.

FAQs On Offline verification process of Aadhaar and role of Offline verification seeking entities (OVSEs)

Shivani 16 May 2023 at 11:19

Offline verification is the use of Aadhaar for identity verification and KYC locally, without sending data to and receiving response from UIDAI online. In offline verification resident directly submits the Aadhaar number and associated demographic information to the Offline Verification Seeking Entity (OVSE)

Treatment of RPF/Annuity/Gratuity in the hands of Employee

Geetanjali Pandey 15 May 2023 at 13:05

Treatment Of RPF/Annuity/Gratuity In The Hands Of Employee & Treatment Of Income In The Hands Of Trust/Fund Set Up For The Benefit Of Employees

How to Register Digital Signature Certificate (DSC) on income tax portal

Shree 13 May 2023 at 16:31

DSC stands for Digital Signature Certificate is a digital equivalent of a physical signature. It serves as a means to authenticate the identity of the person signing an electronic document or transaction.

How to file ITR in offline mode

Mitali 13 May 2023 at 14:16

To file Income Tax Returns (ITRs) offline, taxpayers must use the Offline Utility provided by the Income Tax Department. This utility allows users to generate a JSON file containing the necessary information and details of their ITR.

9 Best Ways to Save on Taxes with Fixed Deposits

CA Ruby Bansal 12 May 2023 at 13:48

In this article, we'll explore the 10 most effective ways to save on taxes with FDs and how they can be a tool for managing your finances.

Nature, Objectives, Conditions & Approval of Trust set up for the benefit of employees

Geetanjali Pandey 10 May 2023 at 12:03

This article is aimed at providing knowledge the nature and objectives set up for the benefit of the employees and also enlightens about the conditions required to be fulfilled for getting approval from the Income tax department.

Stridhan and its Taxation under Provisions of IT 1961

FCS Deepak Pratap Singh 10 May 2023 at 10:43

As you are aware that "Stridhan" is known as bride's Pin Money (in England) and peculium (under Roman Law). It is that part of property or wealth which exclusively belongs to women. Our ancestors have recognized the same well before it was recognized by the Romans.

Challan 280: Auto Fill Income Tax Challan 280 in Excel for offline user

Pranab Banerjee 09 May 2023 at 08:58

Challan 280 is a form used to pay income tax; Payments can be made both online and offline. It is mainly used to pay advance tax, self-assessment tax, regular liquidation tax, surcharge, internal business distributed profit tax and participant distributed income tax.

Income Tax on Non-Resident Indians who sell House Property in INDIA

Affluence Advisory 09 May 2023 at 08:58

Capital Gains Tax applies if Non-Residents sell any House Property in India. The Tax is payable on gains depending on whether it is Long Term Capital Gains or Short Term Capital Gains.