Income Tax Articles

What is Income Escaping Assessment?

Varsha Nayyar 01 October 2021 at 09:19

In technical terms, the income which is not disclosed at the time of filing returns is referred to as the income escaping assessment. As such, a valid notice must be served before an assessment or reassessment.

Investing abroad through mutual funds

Ritik Chopra 30 September 2021 at 09:37

Many of you might not know that you can actually invest in abroad companies through mutual funds. Funds of Funds, Feeder Fund, and Actively Managed Funds are the different channels to invest.

Transfer of Immovable Properties on Sale Consideration less than Stamp Duty Valuation

FCS Deepak Pratap Singh 30 September 2021 at 09:36

Where the consideration for transfer of the asset is less than the stamp duty value, the value so adopted shall be deemed to be the full value of the consideration, for computing income under PGBP.

Vlogging New Industries and Tax Applicability on Vlogging

Taxblock 30 September 2021 at 09:36

If you are pursuing YouTube as your full time profession, you will be taxed under Income from Business or Profession. If it’s a part time earning, the income will be taxable under Income from Other Sources.

Understanding Loans, Types of Loans For Individuals & Businesses and Tax Benefits around Them

Taxblock 30 September 2021 at 09:36

Business loan interest is eligible for exemption, however, the principal amount of the loan is not provided with any tax benefit. The interest is usually deducted from gross income.

Sukanya Samriddhi Yojana Scheme and its Tax Benefits

Taxblock 30 September 2021 at 09:36

Investments made under Sukanya Samriddhi Yojana Scheme are eligible for deduction under Section 80C. The interest accrued on the investment is also eligible for tax exemption.

Side Effects of poor functioning of New Income Tax Portal

CA Umesh Sharma 29 September 2021 at 09:36

Due to technical glitches on the new Income Tax portal, taxpayers have failed to file Income Tax Return, Audit Report and there is a delay in submission of Financials in the bank for loan purposes.

What are Liquid Mutual Funds?

Ritik Chopra 29 September 2021 at 09:29

In this article, the author explains the meaning of liquid mutual funds, their suitability and their advantages.

Understanding Different Deposits And Applicable Tax Benefits Around It

Taxblock 28 September 2021 at 09:35

Bank gives scheme under different types of deposit and account. In this article we will discuss about them in detail and we will also discuss the tax benefits you get under Income Tax Act.

Dont Forget To Include These Incomes In Your Income Tax Return

CA Rahul Mittal 27 September 2021 at 10:19

In this article, we will discuss the incomes that are part of taxable income but many taxpayers don’t include these incomes in their income tax returns.