Income Tax Articles

Income Tax Arrears Relief Calculator u/s 89(1) with Form 10E for FY 2023-24 and AY 2024-25

Pranab Banerjee 17 March 2023 at 13:18

Salary arrears are understood as unpaid wages of the previous period accrued in the current year. There may be a subsequent revision of the employee's wages or a disputed wage which is then issued by the employer.

Be Prepared: Income tax rule changes you should know for New Financial Year

Rashmi 17 March 2023 at 08:58

The Finance Act, 2020 has introduced a new tax regime which is now the default regime for Individuals, HUF, AOP (other than co-operatives), BOI & AJP.

Foreign Tour Packages Will Cost More Starting 1st July 2023: Tips to Book Smarter and Save

Rashmi 16 March 2023 at 09:01

Starting from July 1, 2023, booking foreign tour packages is going to become more expensive for Indians. The government has increased the tax collection at source (TCS) rate for foreign remittances under the Liberalised Remittance Scheme (LRS) from 5% to 20%

Last-minute income tax saving options

Aisha 14 March 2023 at 17:07

Let us know the tax-saving options available in the income tax

India brings cryptocurrency under money laundering laws

Rashmi 10 March 2023 at 13:06

The Indian government has recently made an announcement that cryptocurrencies will now be included in the Prevention of Money Laundering Act (PMLA).

Landmark judgments by Supreme Court in favor of assessees in Income Tax

CA Rakesh Ishi 10 March 2023 at 09:51

Here are a few landmark judgments by the Supreme Court of India in favor of Assessees in Income Tax cases

Chapter VIA (Section 80C) Deduction under IT Act, 1961

Ashok Pitroda 10 March 2023 at 08:58

Section 80C, Section 80CCC and Section 80CCD (1) |Deduction in respect of life insurance premium, contributions to provident fund, sukanya samriddhi yojana, NSC, NPS, APY etc.

TDS on transfer of immovable property

CA Alexandar Gazi 09 March 2023 at 16:38

Any person being a transferee of immovable property, other than the agricultural land, responsible for making payment to a resident transferor as consideration for transfer of any immovable property, shall deduct TDS @1% of such payment.

How to Link PAN Card with Aadhaar Number?

Mitali 09 March 2023 at 13:54

The deadline to link Aadhaar with PAN has been extended several times in the past, and the latest deadline is March 31, 2023. If an individual fails to link their Aadhaar with their PAN by the deadline, their PAN card will become inoperative from April 1, 2023.