What incomes fall under the head of Income From Other Sources? Introduction The Income Tax Act, 1961 is the most direct tax applicable to Indian citizens. Those who receive a salary should pay it according to their income and tax […]

Important compliance for NGOs in India- All you need to know Introduction Many individuals assume that NGOs are exempt from all taxes because they feel that their sole purpose as an organization is to engage in non-profit activities. But this […]

10 Things to Know about Tax Planning for Self-Employed Professionals Introduction Tax planning is a crucial aspect of managing finances for self-employed professionals. It involves strategic decision-making and proactive measures to optimize tax liabilities while ensuring compliance with relevant laws […]

How to reply to a Demand Notice Under Section 156 of the Income Tax Act? Introduction Receiving a demand notice under Section 156 of the Income Tax Act can be a daunting experience for individuals or businesses. However, it is […]

Appeal to Commissioner Under Income Tax and Taxpayer Rights Introduction The income tax system is a critical aspect of any nation’s economy which ensures the provision of essential public services. However, disputes and differences can arise between taxpayers and tax […]

Appeal to Commissioner under Income Tax: How to file it? Introduction   The Income Tax Department is responsible for collecting taxes from individuals and businesses in India. However, there may be instances where a taxpayer is aggrieved by the actions of […]

3CB and 3CD Form – What is it? And components of form 3CD and 3CB Introduction Forms 3CB and 3CD are reporting formats that should be used by auditors who are auditing the books of accounts of taxpayers who are […]

What is Corporate Tax in India? And Corporate Tax Rate for Companies in India Introduction The Income Tax Act of 1961 imposes a corporate tax on both domestic and foreign corporations. Through this Act, the Government of India requires domestic […]

Types of equity earnings and Income Tax rules for Equity Share Trading Introduction Equity investments are potentially risky, but they produce high returns. No matter how much profit you make, it is always subject to capital gains taxation. If the […]