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 […]
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 […]
