Income Tax articles

All about Google Tax (Equalization Levy) In India

As of now, this tax law is applicable only on online advertisements. This tax applies to advertisers, not publishers. Means it will not affect your Adsense earning. If you Publish ads on your website with AdSense, this tax doesn’t apply because you are a publisher....

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All about SFT under Section 285BA read with Rule 114E of the Income Tax Act 1961

The Rule 114E prescribed under the reporting transactions and persons that need to file such records to Director/Joint director of Income Tax (Intelligence and Criminal Investigation).The same is produced below in a synopsis manner to help the reader to get a broad idea of the provisions and rules....

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How to Add/ Register as Representative on Income Tax e-Filing website

As per section 140, section 159 and section 160 of the Income Tax Act, 1961, there are many cases where a person is incapable from attending his affairs, in such cases their guardian or any other competent person can act on their behalf with specific authorisation....

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Form 61A- Who is required to submit – An Infographic

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Requirements of Filing Form 61-A for reporting entity has been made mandatory and the due date is May 31, 2017. Lets See with help of this chart who is required to Submit Form 61A and who is not required to submit […]...

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Various Threshold Limits under Income Tax Act [AY 2018-19]

In Respect of exemptions, deduction etc Income Tax imposes various threshold limit. Like in respect of Tax Rates or in respect of deduction under section 80C, 80D, 80U etc. Some of the Popular Limits are Tax Rates , Conveyance Allowance, HRA, Home Loan Interest, Deduction Under Section 80C, Leave Encashment, Gratuity, Medical ...

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Cost Inflation Index – Meaning & Index from 1981-82 to 2016-17

Article discusses Meaning of Cost Inflation Index (CII) which is used for Computation of Long Term Capital Gain. Cost Inflation index are Notified by CBDT every year and till date CBDT has notified Cost Inflation Index for the Financial Year 1981-82 to Financial year 2016-17. Cost Inflation index are used for computing indexed cost of ac...

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Procedural Aspects for Lower or NIL TDS rate on Sale of Property by Non-resident Indian (NRI)

The benefits of obtaining a lower rate TDS certificate are enormous. It saves interest on monies that would otherwise get blocked, and also the mammoth hassle of obtaining refund at a later stage. However, there are very people who are availing this facility successfully. There is a plethora of theory on internet on this subject; however,...

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Comparison of Revised ICDS Applicable From AY 2017-18 with Respective Accounting Standards- Part II

In this write-up, rest of the following ICDS are covered: VI (Effects of changes in Foreign Exchange Rates) VII (Government grants) VIII (Securities) IX (Borrowing Costs) X (Provisions, contingent liabilities and contingent assets)...

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High-Value Transactions Under Scanner

To keep a watch on high-value transactions by taxpayers, the I-T department has developed a statement of financial transactions called Annual Information Return (AIR). ...

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File Your TDS Statement in time

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Progressive organizations file their TDS Statement in time… Are you the one? FILE e-file TDS statement for the financial year/ quarter ended on 31st March,2017 by 31st May, 2017 Delay in filing of TDS statement shall entail levy of fee o...

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Posted Under: Income Tax |
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