Transport allowance granted to an employee to meet his expenditure for the purpose of commuting between the place of his residence and the place of his duty is fully taxable
Income-tax is levied on an assessee's total income. Such total income has to becomputed as per the provisions contained in the Income-tax Act, 1961. Let us go step bystep to understand the procedure of computation of total income for the purpose of l
Gross Total Income are the total income earned by an individual or entity before subtracting any deductions or taxes. It includes income from various sources such as salary, wages, business income, capital gains, interest, dividends, rental income, and any other sources of income.
Trademark is a symbol, word, phrase, or design that distinguishes products from those of others. Trademarks help consumers to identify and choose products they trust.
In the following article, the author will explore a very significant subject concerning the applicability of Section 186 to non-bank financial companies (NBFC)....
Key Differences between ESOPs and Sweat Equity are mentioned in this article!
Section 43B of the Act provides a list of expenses to be allowed as deduction under the head 'Income from business and profession'. It states some expenses that can be claimed as deduction from the business income only in the year of actual payment and not in the year when the liability to pay such expenses is incurred even if the assessee follows mercantile basis of accounting.
In this article, we will delve into the process of E-Verifying your income tax return as an NRI, guiding you through the eligibility criteria, methods of verification, and troubleshooting common issues that may arise along the way.
A unique identification number is issued by the Central Government to a person who intends to be a Director in a new company or an existing company. That UIN is called Director Identification Number.
As we know that every assessee or taxpayer has to file their Income Tax Return within time prescribed i.e. 31st July/31st October under section 139(1)/139(4) of Income Tax Act, 1961.
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