What is Capital Gain Tax in India? And Different Types of Capital Gain Tax in India Introduction Section 54 Capital Gains Exemption Amendments By investing in two residences, taxpayers can now get a Long-term Capital Gains exemption on the sale […]

What is Section 194K of Income Tax Act?, Types of Income from Mutual fund Units and Motive behind Section 194K of Income Tax Act Introduction During Budget 2020, Nirmala Sitharaman recommended the addition of Section 194K to the Finance Act. […]

“What is Form 27Q?”, “How to file Form 27Q online TDS Return?” And Classification of Form 27Q – NRI TDS Returns Introduction  Form 27Q is a TDS Return or Statement that shows the amount of tax deducted at source (TDS) […]

What is Advance Payment of Tax? And Calculation on Advance Payment of Income Tax Introduction The need to pay Income Tax for income earned during the same Financial Year is referred to as Advance Payment of Tax. In general, taxpayers […]

What is Form 10A of Income Tax? And process for Form 10A Filing Introduction All trusts/societies/institutions/funds/hospitals registered under Section 12A and Section 80G or Section 12AA of the Income Tax Act are required to seek new registration in the prescribed […]

“What is OLTAS?”, “What is Challan Number?” And Challan Status Enquiry Introduction Any type of direct tax, including income tax, corporation tax, Tax Deducted at Source (TDS), and Tax Collected at Source (TCS), can be paid using a single copy […]

How to file Income Tax Return for Sole Proprietorship in India? And FAQs on Income Tax Return for Sole Proprietorship in India Introduction A proprietorship, like other incorporated firms such as partnerships and corporations, must pay tax on its earnings. […]

Everything you need to know on Remuneration to LLP Partners, Eligibility Criteria, and Maximum Remuneration to Partners in LLP allowable by Income Tax Department Introduction The Internal Revenue Service has issued a number of detailed instructions regulating the remuneration granted […]

All you need to know about income tax exemption in India Introduction This article explains income tax exemptions in India, specifically income that is not taxed under Section 10. Income tax is charged on individuals or businesses earning above a […]