What is Section 54 of Income Tax Act? And Conditions under Section 54 of Capital Gains Introduction Owners of residential properties are frequently forced to sell their homes for a variety of reasons, including relocation, career changes, retirement, and so […]

How to file TDS Return Quarterly Offline and Online? And Forms available for filing TDS Return  Introduction According to the requirements of the Income Tax Act in India, filing TDS returns is mandatory. The assessee who has deducted taxes at […]

“Who is an Assessing officer?”, “How to Know your Assessing Officer?” And Powers of Assessing Officer Introduction Each taxpayer is allocated a jurisdictional Assessing Officer based on the residence stated on his PAN Card record and his income to ensure […]

Compliance Calendar for the Month of June, 2022 Owning a Business comes with a lot of responsibilities and duties. As a law abide citizen one must follow the rules and regulations set out by the Government. In India, there are […]

What is Form 29B of Income Tax Act and How to file Form 29B? And Form 29B Applicability Introduction The Income Tax Appellate Tribunal (ITAT) ruled in July 2020 that business loss and business expenditure are not the same things. […]

What is Form 10BA of Income Tax Act? Form 10BA Filing Procedure, and Information required for filing Form 10BA Introduction The taxpayer must complete Form 10BA to claim the deduction for rent paid on rented property under section 80GG of […]

What is Section 10AA of Income Tax Act?, Eligibility Criteria and Calculation for deduction under Section 10AA Introduction Section 10AA of the Income Tax Act 1961 lets taxpayers deduct expenses for Special Economic Zone (SEZ) businesses. This article explains what […]

TDS on Salary under Section 192 of Income Tax Act – How to Calculate TDS on Salary? Introduction TDS (Tax Deduction at Source) is a sort of income tax that is deducted at the point of transaction. Tax is normally […]

All about Form ITR U- an Updated Income Tax Return under Income Tax Act In the Union Budget 2022, the Government of India introduced a provision stating the filing of an Updated Income Tax Return. Under the said provision, a […]