Income Tax articles

Gratuity- Taxation benefits available to company in Pay as go Option & Funding Option

This article is in continuation to my earlier article ‘Requirement of Accounting and Funding Arrangement for Gratuity Benefits‘ in this article we will understand about ‘Taxation benefits available to company in Pay as go Option & Funding Option‘ Gratuity is a statutory right of employee whoever completes 5 yea...

Read More
Posted Under: Income Tax |

E-assessment Scheme, 2019

Brief note on E-Assessment Scheme, 2019 Central Board of Direct Taxes has vide notification no. 61/2019 dated 12th September, 2019 has introduced a scheme called E-assessment Scheme, 2019 (Scheme). It shall come into force on the date of its publication in the Official Gazette. With the help of this scheme the Government aims to curb [&he...

Read More
Posted Under: Income Tax |

Section 194IA -TDS

Legal Provision, Analysis and  Applicability of Section 194IA of Income Tax Act, 1961 Legal Provision of Section 194IA of Income Tax Act, 1961 ♠ Any person, being a transferee, responsible for paying (other than the person referred to insection 194LA) to a resident transferor any sum by way of consideration for transfer of any immovabl...

Read More
Posted Under: Income Tax |

Faceless- E assessment: corporotisation of assessment?

Under Income tax act, some random files are picked by computer based system coupled with some manual selections for verification of income and taxes offered by a tax payer. Widely termed as scrutiny assessment. For decades the assessment was done by  local jurisdictional officer, where it is a mass presumption that some mal practices hav...

Read More
Posted Under: Income Tax |

Deduction under section 80CCC of Income Tax Act

To encourage the assessee to save and invest their hard-earned money, numerous deductions under income tax are offered by the Government. Such deductions also facilitate tax savings for the assessee. One such offered deduction is deduction under section 80CCC of the Income Tax Act. The present article exclusively covers the topic ‘deduc...

Read More
Posted Under: Income Tax | ,

Section 194M of Income Tax Act- Analysis

Budget 2019 brings a lot of new Sections in Income Tax Act. 194M is one of those Section. This Section will cover those individuals and HUF who are not covered anywhere else. Coming to earlier days i.e. Before Budget 2019, there is no liability on any individual or Hindu undivided family (HUF) to deduct tax […]...

Read More
Posted Under: Income Tax |

Cost Inflation Index – Meaning & Index from 1981-82 to 2019-20

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 2019-20.  Cost Inflation index are used for computing indexed cost of [...

Read More
Posted Under: Income Tax | ,

All About Income Tax E-Assessment Scheme 2019

The CBDT on 12th September 2019, notified the much talked about e-assessment procedure vide Notification no. 61/2019. The stakes were high, as it was expected to reduce the red-tapism in the country, during an assessment proceeding. This notification was quickly followed up by another notification vide 62/2019, giving effect to the Income...

Read More
Posted Under: Income Tax |

Deduction under section 80C of Income Tax Act

Deduction under chapter VIA covers all the allowable deduction to be made while computing the total income. When we talk about the permissible deduction under chapter VIA, the first and the most popular section that comes to the mind is deduction under section 80C, which is taken up and explained thoroughly in the current article. Catego...

Read More
Posted Under: Income Tax |

Multilateral Instruments – Key Articles Simplified

Base Erosion Profit Shifting (‘BEPS’) Action Plan Weakness of international tax system created several opportunities for tax payers for shifting profits to tax friendly jurisdictions. To create transparency, exchange of information and to avoid treaty abuse, G20 leaders endorsed BEPS Action Plan and developed the same with Organisatio...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (4,284)
Company Law (4,998)
Custom Duty (7,373)
DGFT (3,995)
Excise Duty (4,250)
Fema / RBI (3,829)
Finance (4,007)
Income Tax (30,728)
SEBI (3,190)
Service Tax (3,470)