Income tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial Year 2015-16 (relevant to Assessment Year 2016-17)   Income Tax […]

What is the Presumptive Taxation Scheme?   To reduce the burden of various compliances, Govt. has introduced a scheme of Presumptive Taxation under section 44AD, 44ADA, and 44AE of the Income Tax Act 1961. Under this scheme income of the […]

We all are aware that end of the financial year 17-18 is approaching. 31st March, 2018 is an important date to remember for individuals and taxpayers in India as it is the deadline for completing all financial obligations. Here are […]

Here is a complete overview of the service tax reverse charge mechanism. Let us explain it in detail. Know when and where it is applicable. The post gives you full details on the service tax reverse charge.   As per […]