What is Section 35AD of Income Tax Act? And Deduction towards specified business under Section 35AD Introduction The Indian government has identified some commercial sectors as critical to the country’s development and progress. The government provides tax deductions under Section […]

What is Foreign Tax Credit? And Foreign Tax Credit Rules Company India today serves global demands as a resident of India and brings in foreign income that is taxed in India. On the other hand, this opens up the possibility […]

“What is AMT in Income Tax?”, “What is MAT in Income Tax?”, MAT and AMT Difference Introduction Minimum Alternate Tax (MAT) and Alternative Minimum Tax (AMT) is taxation concepts that are applicable for businesses and individuals that pay taxes. Although […]

What is Dividend? Applicability of DDT and Tax on Dividend Income Introduction If a shareholder receives a dividend from a domestic firm during the Assessment Year 2020-21, he will not be obliged to pay any tax on the dividend since […]

What is ITR 3 Form?, “How to file ITR 3?”, And information on “Who can file ITR 3?” Introduction In India, there are several types of taxpayers, each of whom requires a separate form to file income tax returns. ITR […]

Section 111A vs 112A of Income Tax, and Difference between 111A and 112A under Income Tax Act Understanding Sections 111A and 112A of the Income Tax Act is crucial for taxpayers, as these provisions are essential for calculating capital gains […]

What is Bonus Share and Bonus Stripping? And Tax on Bonus Share Under Income Tax Act Introduction Dividends are one of the most important sources of income for stock investors over the long term. Dividends are paid out in two […]

Tax Audit Applicability for Traders and information on Tax Audit Return Filing for Traders Introduction Tax audits have always been a source of consternation, particularly among investors and traders. A practicing Chartered Accountant examines and assesses a taxpayer’s books of […]

“What is EPS?”, “What is EPF?” – Difference between EPF and EPS The difference between Employee Provident Fund (EPF) and EPS is often misunderstood. Although both are government-sponsored pension plans designed to help salaried employees in saving for retirement. There are […]