Income Tax Articles
How to update your name on PAN card
PAN card or Permanent Account Number is a unique ten-digit alphanumeric number issued by NSDL in India. It is used for various tax purposes while filing as identity proof and serves as valid identity proof for multiple other processes.
Income of Freelancers and Taxation around it
Freelancing income refers to an income or money earned by working on specific assignments for a specific term and getting paid for the work upon completion and submission.
Things to check after filing returns
Here is the list of things to check after filing return
Interest Under Section 234
Under section 234B of the Income Tax Act, you would be fined in the form of interest if you miss or delay the payment. Similarly, you must pay fines under sections 234A and 234C. Here's a rundown of the three sorts of interest you might have to pay in case of default.
File Form 29D to get refund
The CBDT through notification no. G.S.R. 634(E) dated 17 August,2022 has amended Income Tax Rules, 1962. As per the notification, a non-resident is required to file Form 29D to claim refund. Read on to know more.
Amount Received Under A Settlement Or Decree May Not Be Taxable Under IT Act 1961
In practice, nature of receipt shall be determined by extensive scrutiny of pleadings in suit and / or recitals contained in the settlement agreement and careful drafting will be quintessential.
Clause 44: Clarifications as per new guidance note - AY 2022-2023
Clause 44: Clarifications as per new guidance note for Assessment Year 2022-2023
Clause 44 of Form 3CD: An illustrative analysis
The ICAI has issued revised Guidance Note dated 14th Aug. 2022 on 19th Aug 2022 and with respect to the Clause Number 44.
Decoding of Clause 44 of Tax Audit Report (3CD)
A question may arise whether the above information is to be given in respect of each and every head of expenditure or only the total expenditure is to be given.
Fixed Deposits: Best Investment or Not
Fixed deposits basically mean putting a certain amount of money for a fixed period. You can earn interest on the principal sum throughout the tenure on a cumulative basis. The interest earned gets added to the principal amount after every specific interval.
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