Income Tax Articles

All you need to know about Gifts

CA Pooja Dhoot 06 March 2023 at 08:53

As per Section 122 of the Transfer of Property Act,1882- "Gift is the transfer of certain existing MOVABLE OR IMMOVABLE property made VOLUNTARILY and WITHOUT CONSIDERATION by one person called Donor to another called Donee and accepted by or on behalf of Donee".

Nuances of tax laws - How to understand & interpret?

CS Advocate Abhishek Goyal 04 March 2023 at 15:46

Rule of harmonious construction requires that a provision of law must be read as a whole and not in isolation. The law should be given effect to without adding anything as per the intention of the legislature.

Section 44AB: Applicability of Tax Audit & Penalty

Mitali 03 March 2023 at 12:58

What is tax audit?The dictionary meaning of the term "audit" is check, review, inspection, etc. There are various types of audits prescribed unde

Advance Tax Payment

CA Sanat Pyne 03 March 2023 at 08:57

Advance tax is a tax that needs to be paid in advance on estimated income, in contrast to the regular tax paid at the end of the financial year. In this article, we will cover the basics of advance tax, including the procedure for calculating and paying it.

Benefits available to a senior citizen in filling ITR for FY 2022-23

Aisha 01 March 2023 at 16:23

Senior citizens and a very senior citizen are granted a higher exemption limit as compared to normal tax payers. Exemption limit is the quantum of income up to which a person is not liable to pay tax.

Updated ITR - Section 139(8A)

CA Himanshu Gandotra 01 March 2023 at 09:02

As the financial year 2022-23 is approaching its end, the last date to file ITR for previous years is also expiring. In this article, let's discuss the two options to file ITR after due date of filing has expired.

Tax Compliance Tracker for the month of March 2023

CS Lalit Rajput 28 February 2023 at 09:38

Tax Compliance Tracker - March, 2023

National Pension System (NPS): Additional Tax Saving Option

Affluence Advisory 28 February 2023 at 08:44

National Pension System (NPS) is a pension cum investment scheme launched by the Government of India to provide old age security to Citizens of India. It brings an attractive long-term saving avenue to effectively plan your retirement through safe and regulated market-based returns.

Impact of Changes in ITR Forms for FY 2022-23!

CA Umesh Sharma 27 February 2023 at 14:16

New ITR forms have been notified by CBDT on 10/02/2023 and 14/02/2023, what is your view on that

Donation to Political Parties under Section 80GGC

CA Ramanujan Sharma 27 February 2023 at 08:49

In this article, the author has tried to explain the section and procedure to be followed for contribution to a political party in a brief and simplified manne...