Income Tax Articles
Valuation of Perquisite of Motor Car or any other Automotive Conveyance
In case employer had provided a car or any other vehicle for the private use of the employee or any other member of his family, it is a perquisite which is taxable in the hands of the employee provided he/she is an employee of a specified category.
Meaning of actual payment u/s 43B of income tax act 1961
This artice covers the meaning of Actual Payment under Section 43B of Income-tax act 1961
Legality of roping in an unconnected third party in the rigors of an Income Tax Search and Seizure action
Bank Lockers- Income Tax Search and Seizure
Section 151: Sanction for Issue of Notice - An Important Safeguard
Section 151 of the Income Tax Act 1961(Act), provides that Assessing officer (AO) has to take approval from the higher authority before issuing the notice u/s 148. AO, by the provisions of section 147 of the Act, has the power, to reopen the already completed Assessment.
Consequence of non-filing of appeal in respect of cases where the tax effect is less than the prescribed monetary limit
As you are aware that the Commissioner may, of he objects to any order passed by the Commissioner (Appeal) under Section 154 or Section 250, direct the Assessing Officer to appeal to the Tribunal against the said order. However, such direction shall be given only in those cases only in those cases where Tax Effect exceeds the specified amount.
How are winnings from fantasy games taxable in India?
As per the Federation of Indian Fantasy Sports, the income of these operators expanded in last few years. Which increased to Rs. 2400 crores in financial year 2020. Also, there was expansion in number or operators there was 10 in 201 and now there is 150 in 2020.
E-commerce company: How to start and financial/tax compliances around it
The person who wants to start e-commerce business has two modes which is either he can start with e-commerce website or join market place.
How to save money without investment
The income tax department have provided various deductions and exemptions to the taxpayers that can be subtracted from the taxable income under chapter VI A under Section 80 to reduce the burden of tax.
All about 26AS under Income Tax Act
Form 26AS is an important tax filing as it is Tax Credit Statement.
Understanding Forex Transactions with Associated Risks
Forex Transactions indicate the sale and purchase of foreign currencies. It is an agreement of exchanging currency of one country for the currency of the other at an agreed exchange rate on a pre-determined date.
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