indian income tax articles

How to View Income Tax Certificate of Appreciation

From AY 2016-17, Income Tax Department have started issuing certificate of appreciation for eligible taxpayers who have cleared their entire liability, have no outstanding tax liabilities and had filed their returns electronically in the prescribed time. Steps to view the certificate of appreciation Step 1 Logon to ‘e-Filing’ ...

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Residential Status of an Individual- Q & A

Residential Status of an Individual under Income Tax Act, 1961 One of the most basic yet very important topic in direct taxation is determining the residential status of the assessee. This concept will act as a foundation for Calculating Taxable income and calculation of tax thereon. In this article let us discuss the provisions of [&hell...

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Agricultural Income – Tax treatment / Taxability

Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not taxed. The reason for exemption of agriculture income from Central Taxation is that the Constitution gives exclusive power to make laws with respect to taxes on agricultural income to the State Legislature. Howev...

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Taxation of Agricultural Income- Detailed Analysis

1. Agricultural Income in India is Exempt from Income Tax u/s 10(1) of Income Tax Act, but agricultural income from outside India is taxable. As per entry number 82 of Union List, Central Govt. shall have the powers to levy income tax on any income except agricultural income....

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Changes to Indian exchange regulations relating to receipt and remittance of remuneration outside India

01/01/1970

Payment of salary outside India to employees of a foreign company who are on secondment to an office, branch, subsidiary or joint venture in India (Indian entity) of the foreign company. The remittance of salary received by foreign nationals whilst resident in India who are employees of Indian companies....

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How to fill & file Income Tax Return ( ITR-2)

To file I-T returns, the choice for salaried individuals will be between the Indian Income Tax Return – 1 (ITR-1) and ITR-2 forms. If your earnings for the year are through salary income and interest earned on bank deposits, then ITR-1 is the form you should fill up. If you are a salaried individual and […]...

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Non Resident Indians' obligation to file Income Tax Return in India

An ‘NRI’ is a citizen of India or a person of Indian origin* who is not a resident in India. Residency for tax purposes is decided based on a person’s physical stay in India. There are three conditions that could trigger non residency for tax purposes. First, when an individual’s stay in India is less than 60 days in a particular ...

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