In this article, we have discussed the difference between the New and Old Income Tax Regime under six criteria, in a tabular format.
As per section 197, when the actual tax payable on the income of an assessee is lower than the TDS to be deducted by the payer, then the AO shall grant him a certificate upon the application made by the assessee.
The concept of Old Vs New Tax regime = a dual tax regime was introduced by Finance Act 2020 for FY 2020-21. In this article, we discuss the criteria one should follow while making the right choice between the two regimes.
CBDT has notified all Hospitals, Dispensaries, Nursing Homes, Covid Care Centres, or similar other medical facilities providing Covid treatment to patients for section 269ST so that they can receive cash payments of Rs. 2 lacs or more.
Discussing the due date for filing Return of Income for companies who are required to get their accounts audited, for transfer pricing assesses and for other individuals.
Tax planning is a part of financial planning. Though it is difficult to avoid taxes, you can strategise to reduce the tax outgo efficiently. Laying out some tips for the same, in this article.
According to the Finance Act 1987 amendment, you can file your Belated IT Returns anytime on or before 1 year from the end of the relevant Assessment Year (AY).
Discussing the three types of challan cum returns under TDS on Payment of transfer of Immovable Property, TDS on Rent on Property and TDS on Payment to Resident Contractors and Professionals.
A bond washing transaction can be defined as a transaction where some securities are sold sometime before the due date of Interest and reacquired after the due date is over. In order to discourage such transactions Section 94 was introduced.
As per the Income Tax Act, a foreign citizen may end up being an Indian Resident & liable to pay tax for a particular year. So, it is important to know one's residential status.
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