Income Tax Articles

TDS And TCS under Income Tax

Posted by Taxblock 11 July 2022 8186 Views

TDS and TCS are the government's most important sources of revenue. It's also critical for businesses to pay their taxes on time to avoid penalties and remain compliant.

What is Tax, Financial & Retirement Planning

Posted by Taxblock 07 July 2022 4938 Views

Financial Planning and Tax planning are considered to be the same tax, but these concepts are not similar. Both financial planning and tax planning are interconnected.

Statutory Tax Compliance Tracker for the month of July, 2022

Posted by CS Lalit Rajput 05 July 2022 13121 Views

Tax Compliance Tracker - July, 2022

New TDS Rules to affect Social Media Influencers and Doctors

Posted by Poojitha Raam Vinay

27 June 2022 15705 Views

The new TDS section 194R introduced in the Budget, 2022 shall be applicable from 1st July, 2022, requiring a deduction of 10% by any person (resident or non-resident) who provides benefit or perquisite to a resident person in a year exceeding Rs 20,000 shall be liable for TDS under section 194R.

Section 194R: Tax Deducted at Source on benefits or Perquisites

Posted by Shailesh Prajapati 25 June 2022 9589 Views

The new section mandates a person, who is responsible for providing any benefit or perquisite to a resident, to deduct tax at source @10% of the value or aggregate of value of such benefit or perquisite, before providing such benefit or perquisite.

Income Tax: CBDT issued fresh guidelines under section 194S(6)

Posted by CS Lalit Rajput 25 June 2022 6540 Views

Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes(TPL Division) File No. F. No. 370142/29/2022-TPL (Part-I) vide Income Tax Circular No. 13 of 2022 dated 22nd June, 2022 has released "Circular regarding Guidelines for removal of difficulties under sub-section (6) of section 194S of the Income-tax Act, 1961".

Analysis of provisions of Section 50D of IT Act 1961

Posted by FCS Deepak Pratap Singh 25 June 2022 5908 Views

There are various Advance Rulings relating to specific situations of "Transfer" of "Capital Assets". The provisions of Section 50D has been introduced to nullify above Advance Rulings.

What is income tax and how does it benefit an individual

Posted by Suhasini

22 June 2022 6104 Views

Your income for every financial year is taxed according to the Income Tax Laws. That is why filing the Income Tax return on an annual basis is important. So, let's move forward to know more about the income tax return and the benefits one can get from it.

Merger & Acquisitions under provisions of IT Act 1961

Posted by FCS Deepak Pratap Singh 22 June 2022 11827 Views

Amalgamation is a blending of two or more existing companies /undertakings into one company/ undertaking. The shareholders of two blending companies substantially become shareholders of the blended company. There will be an Amalgamation when two or more companies/undertakings are acquired by a new company.