Income Tax Articles

Annuity Taxation

Mitali 17 April 2024 at 17:19

An annuity is a contract where a person required to pay a lump sum to an insurance company, and in return, they provide periodic payments over a specified time frame, which can be used for retirement income.

Debt Mutual Fund Taxation

CA Ruby Bansal 17 April 2024 at 13:01

Debt mutual funds are those investments that are primarily invested in fixed-income securities such as bonds, debentures, and other money market instruments. These funds focus on generating returns through interest income and capital appreciation from bond investments.

Navigating NRI Tax Filing: A Comprehensive Guide

CA Arun Tiwari 17 April 2024 at 08:33

In this guide, we'll break down the various aspects of income tax filing for NRIs, offering practical tips and valuable insights to make the process easier.

Automated Income Tax Calculator for FY 2024-25 for Non-Government Employees

Pranab Banerjee 16 April 2024 at 08:40

Download Automated Income Tax Calculator All in One in Excel for the Non-Government Employees for the FY 2024-25 as per the Budget 2024

Maryada of Taxation for Businesses

CA Umesh Sharma 15 April 2024 at 14:02

What are the various Income Tax and GST Maryadas (Limits) that the taxpayers must know?

How to Navigate Modified ITR for Business Reorganization: A Guide Until June 30, 2024

Vivek Jalan 13 April 2024 at 06:38

Modified ITR for Business Reorganization from June 2016 to March 2022 possible until June 30, 2024. Taxpayer to communicate to Jurisdictional Assessing Officer (JAO) by 30th April 2024.

Unveiling India's Real Estate Appeal: Simplified Taxes and Indexation Benefits for NRIs

CA Arun Tiwari 13 April 2024 at 06:38

This article delves into the reasons behind NRIs' interest in India's real estate, focusing on simplified taxes and indexation benefits.

For Tax Filing - Analyze the Old & New Tax Regime

Affluence Advisory 12 April 2024 at 08:36

Lately, a lot of confusion has sparked on various internet platforms regarding the tax changes for the financial year (FY) 2024-25. However, the Ministry of Finance has put that to rest by putting out a clarification vide its Twitter handle that there are no changes on the tax rates as on 01.04.2024.

Issues Pertaining to HRA claims

Khush Trivedi 11 April 2024 at 11:03

The Ministry of Finance recently issued a clarification regarding media reports suggesting a special drive by the Central Board of Direct Taxes (CBDT) to reopen cases linked to House Rent Allowance (HRA) claims. These reports, according to the Ministry, are not grounded in reality, and there is no substantial evidence to support claims of a large-scale reopening of cases.

Differentiating TDS on Rent: Section 194IB vs 195 of IT Act, 1961

CA. Bhavik P. Chudasama 11 April 2024 at 08:47

The Income Tax Act mandates tenants to deduct Tax Deducted at Source (TDS) on rent payments under certain circumstances. This helps collect tax from landlords at the source of income. Here's a breakdown of TDS on rent under Section 194IB and 195