Income Tax : Learn how to view your Income Tax Certificate of Appreciation for AY 2016-17 and onwards. Follow these steps to access and downloa...
Income Tax : Residential Status of an Individual under Income Tax Act, 1961 One of the most basic yet very important topic in direct taxation i...
Income Tax : Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not ta...
Income Tax : 1. Agricultural Income in India is Exempt from Income Tax u/s 10(1) of Income Tax Act, but agricultural income from outside India...
Fema / RBI : Payment of salary outside India to employees of a foreign company who are on secondment to an office, branch, subsidiary or joint ...
Income Tax : Karnataka Taxpayers Association has released a Press note and stated that New Income Tax Filing Portal has crashed within an H...
Income Tax : If you think your e-Filing account may have been compromised or accessed in an unauthorized manner, then you may be a victim of cy...
Income Tax : Resuming its arguments against Rs 11,000-crore tax demand by the Income Tax (I-T) department, the British telecom giant Vodafone t...
Income Tax : After taxing investors for dividend stripping, the Income Tax (I-T) Department is gearing up to tax bonus stripping. Official sour...
Income Tax : USA is not a person or authority under the Indian Income Tax Act, subsidy or grant received from it does not attract Explanation 1...
Income Tax : 6. Section 132(1) (b) & (c) of the Act to the extent relevant to the present case reads thus:- 132. (1) Where the [Director Gener...
6. Section 132(1) (b) & (c) of the Act to the extent relevant to the present case reads thus:- 132. (1) Where the [Director General or Director] or the [Chief Commissioner or Commissioner] [or any such (Joint Director) or (Joint Commissioner) as may be empowered in this behalf by the Board], in consequence of information in his possession, has reason to believe that-(a) any person to whom a summons under sub-section
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 […]
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 tax year. Second when the stay exceeds 60 days but is less than 182 days and the cumulative stay in the four years preceding the year in question is less than 365. Finally, when an individual leaves India for taking up an employment outside India and his/her stay is less than182 days in the year of departure.
