Income Tax Articles

Meaning of Set off and carry forward of losses

Posted by KAVITHA M S 02 May 2021 210777 Views

As per Income Tax Act 1961, a Person as defined in Section 2(31) can set off and Carry forward the losses incurred. It has been updated till Budget 2018.

ITR4S : Presumptive taxation

Posted by Shubham Gupta 03 January 2017 11777 Views

ITR-4S is a special case ITR, applicable for businesses where income is calculated on 'presumptive method'. In simple words the presumptive method lets you report your income as 8 per cent of your gross receipt

Start-up India : An Overview

Posted by Ajay Pradeep Bansal 06 July 2016 9745 Views

The Government of India has, vide Notification dated 17.02.2016, announced "Start up India" initiative for creating a conducive environment for Start ups in India.

Why filing of Income Tax Return before 31st July is Important?

Posted by CA Umesh Sharma 06 July 2016 19538 Views

Details on who are required to file income tax return before 31st July and what care they should take before filing it

Learn How to Use Tax Deductions to Save Money

Posted by Guest 01 July 2016 21886 Views

The Income Tax Department allows certain deductions which can be claimed to save tax at the time of filing the income tax return.

Section 115-UB Tax on income of investment fund and its unit holders

Posted by Pranjul Mittal 28 December 2016 52898 Views

Introduction & Its Applicability:Section 115-UB of Income Tax Act, 1961 shall b

TDS on sale of property @1% under Section 194IA

Posted by Shubham Gupta 27 December 2016 16589 Views

The prevailing withholding tax is deducted at source, and is 1% of the consideration payable to the seller. It is the responsibility of the buyer to deduct the tax and deposit the same in the government treasury�

Burden of TCS on sale or purchase in cash?

Posted by CA Umesh Sharma 25 December 2016 14125 Views

Arjuna (Fictional Character): Krishna, the government has brought the provision of TCS (Tax Collected at Source) on sale of every product or service in income t...

Welcome clarification from Govt for TCS on cash sales

Posted by Rani Jain 24 December 2016 4403 Views

It's wonderful to have clarification vide circular no. 23/20169 dt. 24th June, 20016 from Government. Government had clarified liability to collect Tax a