Income Tax Articles

Taxability of life insurance policies not eligible for exemption u/s 10(10D)

Posted by Geetanjali Pandey 25 March 2023 6283 Views

Sec 10(10D) provide exemption with respect to any sum received under a life insurance policy, including the sum allocated by way of bonus on such policy, where premium payable for any of the year during the tenure of the policy

How to file TDS Correction Statement prior to FY 2011-12

Posted by B Vinay Reddy 24 March 2023 17682 Views

Hello Everyone,You might be facing below error while requesting for Online correctionn on TRACES for FY prioir to FY 2011-12 -"Online correction on TRACES

Why do you get Income Tax Notice: Reasons and Remedies

Posted by Rashmi 24 March 2023 15495 Views

In this article, we will discuss the common reasons why you may receive an Income Tax notice in India and the remedies to avoid or address them.

Maximize Your Retirement Benefits

Posted by Rashmi 24 March 2023 2627 Views

Invest Up to Rs 30 Lakh in Senior Citizen Savings Scheme Starting April 1, 2023 - Learn About SCSS, Tax Benefits, Withdrawals, and Interest Rates

Relief to Small and Medium Taxpayers in State Budget

Posted by CA Umesh Sharma 23 March 2023 3238 Views

Maharashtra State Budget was presented by Deputy Chief Minister (Finance)Shri Devendra Fadnavis on 9th March 2023. It was based on 'panchamrit' (five) principles with a focus on Farmers, Women, Youth, Employment, and Environment.

Important things from Income Tax aspect to consider this March ending!

Posted by CA Umesh Sharma 22 March 2023 7371 Views

Important tasks of income tax that should be undertaken before this March end has been listed in this article.

Higher TCS on Foreign Remittances: What Parents Need to Know While Sending Money for Education Expenses

Posted by Rashmi 21 March 2023 8379 Views

The Union Budget 2023 proposed to increase the tax collection at source (TCS) for foreign remittances under the liberalised remittance scheme (LRS) from 5% to 20%.

Tally ERP Accounting Software or QuickBooks: What to Choose?

Posted by vishal dharmadhikari 20 March 2023 11532 Views

Tally ERP is a well-known accounting application that is used all over the world and is ultimately used as enterprise software by firms of all sizes. However, it is utilized as a perfect business management solution. QuickBooks will continue to operate in India till 30th April 2023.

Brief On: AIS App for Taxpayers

Posted by CS Lalit Rajput 20 March 2023 3118 Views

The IT Department has recently launched an AIS Application (to view Annual Information Statements)for taxpayers aiming to provide each transaction information taxpayers and accept their feedback.