Income Tax Articles

Maharashtra Settlement of arrears of Tax, Interest, Penalty, or Late Fees Scheme 2022

Posted by CA Umesh Sharma 04 April 2022 8345 Views

The Maharashtra Government has introduced the scheme in the L.A. BILL No. IX of 2022 to settle old disputes. Considering the same, the government has introduced disputes between the Maharashtra government and taxpayers.

CBDT's Clarification as Regards Application of MFN Clause for Lower Rate of Source Taxation

Posted by Adv. Ravish Bhatt, ADIT, CIOT 03 April 2022 5996 Views

The Central Board of Direct Taxes issued a clarificatory circular on 03.02.2022 pursuant to receipt of representations for clarity as regards application of MFN clauses available in the protocol to some of the DTAAs with OECD members.

What is an SEZ, tax & trade implications on companies located in SEZ?

Posted by Taxblock 02 April 2022 2573 Views

A Special Economic Zone (SEZ) is a zone wherein businesses enjoy simpler tax and easier legal difficulties. It is located in a country’s national borders only, but they are treated as foreign territory for tax purpose.

What are Liquid Mutual Funds?

Posted by Ritik Chopra 28 March 2022 2227 Views

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

Transfer of capital assets between holding and subsidiary company or vice-versa and its tax implications

Posted by FCS Deepak Pratap Singh 28 March 2022 7344 Views

As you are aware that the term "Business Restructuring" is composed of two words," Business" and "Restructuring". We know that the "Business", includes trade, commerce, manufacture, profession etc

Understanding Different Deposits And Applicable Tax Benefits Around It

Posted by Taxblock 27 March 2022 1707 Views

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

Posted by CA Rahul Mittal 26 March 2022 7147 Views

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.

Which individuals are required to file ITR and which ITR form is to be used?

Posted by Varsha Nayyar 26 March 2022 1897 Views

Any individual or HUF whose total income before deducting CH VI A deductions and Sec 54/54B/54D/54EC/54F/54G/54GA/54GB is more than the basic exemption limit

Capital gains and its taxability

Posted by Taxblock 23 March 2022 8052 Views

Capital gains are the amount of net profits(gains) that the investor makes from selling of any capital assets over the purchase price of that assets. The entir...

Whether Notional Interest on Security Deposit paid by employer for accommodation of its employee will also be included while calculating perquisites

Posted by FCS Deepak Pratap Singh 23 March 2022 4109 Views

Perquisite value of a residential accommodation provided by the employer to its employee will be calculated on the basis of actual rent paid or payable and no notional interest on Security Deposit deposited by employer