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Rate of Interest on Income Tax Refund is 6% While on short Payment of Tax 12%

May 9, 2024 3093 Views 1 comment Print

Learn about interest rates applicable to income tax refunds and short tax payments under Income Tax Act. Find out how to calculate advance tax and understand implications of underpayment or overpayment.

Fourth Head of Income under Income Tax Act, 1961: Capital Gains

May 2, 2024 2337 Views 0 comment Print

Learn about Capital Gains under the Income Tax Act, 1961. Understand what constitutes capital assets, types of transfers, computation methods, and deductions.

It is Not Compulsory to Prepare Will But it is Advisable to Prepare Will

April 23, 2024 2742 Views 0 comment Print

Learn about the Indian Succession Act of 1925, its provisions, and the importance of preparing and executing wills. Explore the requirements, types of wills, execution process, and the role of executors.

Amendments Effective From 1st April, 2024 For Charitable Trusts

April 6, 2024 30741 Views 2 comments Print

Understand the latest amendments impacting Charitable Trusts from April 1, 2024. Learn about amendments in Section 11 of the Income Tax Act, corpus donations, deductions, and audit report requirements.

Section 139(8A): Updated Return effective from 1st April, 2022

March 16, 2024 4380 Views 1 comment Print

Learn about Section 139(8A) effective from April 1, 2022, its impact on tax filing, rules, and when to file updated returns. Get insights now!

Provision of Tax Deducted at Source from Rent under Section 194I

February 23, 2024 3102 Views 0 comment Print

Explore Section 194I of the Income Tax Act for tax deductions on rent payments. Learn rates, exemptions, and important clarifications for landlords and tenants.

Provisions of Income Tax Act Regarding Micro And Small Enterprise

February 14, 2024 1755 Views 0 comment Print

Explore the Income Tax Act recent amendments regarding Micro and Small Enterprises. Learn about deductions, payment timelines, and the impact on small businesses

Rate of Income Tax in Different Countries

February 8, 2024 1419 Views 0 comment Print

Explore the varying income tax rates across countries, from zero tax nations to those with high rates. Gain insights into historical changes and proposals for tax reform.

Tax Planning Through Gift

February 2, 2024 3060 Views 0 comment Print

Explore the nuances of Gift Tax under the Income Tax Act, exemptions, and its impact on recipients. Learn about tax planning through gifting and stay informed about the relevant provisions.

Amount Received At The Time Of Maturity of Life Insurance Policy Is Exempt?

January 18, 2024 2577 Views 0 comment Print

Explore Income Tax Act Section 10(10D) exemptions for life insurance maturity payouts. Understand criteria, amendments, and implications.

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