Tax Planning
Section 80IA – Tax Deductions for Infrastructure Development: All You Need to Know
About Section 80IA You have probably heard of Section 80IA. It is one of India’s most popular tax deductions, and for a good reason: it offers significant tax benefits for businesses that invest in infrastructure development. But what, exactly, does Section 80IA entail? And how can your business take advantage of it? In this article, ... Section 80IA – Tax Deductions for Infrastructure Development: All You Need to Know
- Anshul Gupta
- 8 May 2023 • 9 min read
List of Capital Gains Exemptions in India
Every investor aims to earn the most from the chances they undertake in the volatile market. However, with every earning or ‘capital gain’ comes hefty taxation. However, multiple sections of the Income Tax Act of India provide provisions for tax exemptions under capital gains. The Indian government has introduced several provisions that provide exemptions on ... List of Capital Gains Exemptions in India
- Piyush Mohta
- 21 April 2023 • 17 min read
Tax Audit: All You Need to Know
Tax audit refers to the process of inspection and verification of books of accounts of a taxpayer to ensure their adherence to the provisions of the Income-Tax Act, of 1961. Section 44AB of the Act lays an obligation on certain persons mentioned thereunder carrying on business or profession, to get their accounts audited before the ... Tax Audit: All You Need to Know
- Vaibhav Khandelwal
- 21 April 2023 • 7 min read
Know all about Tax Deducted at Source
The government of India came up with the concept of Pay as You Earn and introduced the tax deducted at source under the Income-tax Act, 1961 (I-T Act). It means levying and collecting the tax from the very source of income. In this article, we will discuss the TDS and its related provisions under the ... Know all about Tax Deducted at Source
- Animesh Gupta
- 15 April 2023 • 9 min read
What Is Income From Other Sources? Taxability, Exemptions and Deductions
Under the I-T Act, for the computation of total income, the income of an assessee is classified into five different heads of income. These are the income from salaries, house property, capital gain, profit and gains from business or profession, and income from other sources. In this article, we will learn more about the details ... What Is Income From Other Sources? Taxability, Exemptions and Deductions
- Piyush Mohta
- 15 April 2023 • 7 min read
All about Form 60 and Form 61 under IT Act
A PAN card is one of the essential documents required by all Indian taxpayers. PAN helps to store all the financial transactions of the applicant. It is required to conduct financial transactions, file returns etc. Not having a PAN and carrying out those transactions which require the need of PAN will impose questions on the ... All about Form 60 and Form 61 under IT Act
- Anshul Gupta
- 6 April 2023 • 10 min read
What is Excise Duty? All You Need to Know
The Constitution of India has conferred the power to levy and collect taxes whether direct or indirect on the Parliament and the Legislature of a State by Article 246 of the Constitution. In India taxes are broadly categorized into direct taxes and indirect taxes. Direct taxes are levied on the income of a person whereas ... What is Excise Duty? All You Need to Know
- Anshul Gupta
- 6 April 2023 • 7 min read
PAN Application for Partnership Firms
A Permanent Account Number (PAN) card is a vital document for businesses in India. It serves as a unique identification number for tax purposes and is mandatory for most financial transactions. Partnership firms, in particular, need to obtain a PAN card to comply with the regulations set by the Income Tax Department. However, the process ... PAN Application for Partnership Firms
- Ramya Rajasri
- 4 April 2023 • 7 min read
Deduction under Section 80CCC
Pension Funds are one of the Post Retirement Financial Planning tools. They guarantee a fixed source of monthly income post-retirement. However, only certain designated pension plans under Section 10(23AAB) of Income-tax Act, 1961 (I-T Act) are qualified for deductions under Section 80CCC. In this article, we will learn more about section 80CCC of the I-T ... Deduction under Section 80CCC
- Anshul Gupta
- 3 April 2023 • 5 min read
What is Deferred Tax Liability
The objective of this article is to familiarize the reader with deferred tax liability and how to compute the same. But before moving to deferred tax liability, one must know about deferred tax and how it is classified into deferred tax assets and deferred tax liability. What is Deferred Tax? Deferred tax is the notional ... What is Deferred Tax Liability
- Vaibhav Khandelwal
- 3 April 2023 • 7 min read
