Monetary gifts to individuals or HUFs exceeding ₹50,000 in a year are taxable unless received under specific exemptions like from relatives, on marriage, or as inheritance.
Rental income from sub-letting is taxed as “Income from other sources,” not “Income from house property.” Deemed ownership rules apply to non-registered property owners.
Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance requirements for small taxpayers.
Learn about Income Tax Returns (ITR) forms for different taxpayers, filing methods, and requirements. Includes details on ITR-1, ITR-2, ITR-3, and more.
Learn what constitutes salary, allowances, and perquisites under the Income-tax Act. Includes details on taxability of pensions, benefits, and standard deductions.
Learn about Tax Deducted at Source (TDS), its purpose, applicable payments, and the rates for various categories including resident and non-resident payments.
Read about the Chartered Accountants Association’s follow-up on SGST officials’ unscrupulous practices to harass stakeholders in Gujarat, demanding accountability and action.
Learn about India’s Income Tax system, including its administration, who pays it, applicable rates, and the process for paying taxes and maintaining records.
GST introduces RCM Liability/ITC Statement for accurate RCM reporting. Deadline for opening balance is 31st Oct 2024, with amendments allowed until 30th Nov 2024.
From Sept 2024, taxpayers must update valid bank account details in GST registration to file GSTR-1/IFF for Aug 2024 onwards. Non-compliance will block filings.
