In this article, let’s quickly understand some major Income Tax updates as released in Budget 2023. There are quite a few small amendments as well,
Category: Income Tax
Majority of the Indian Economy depends on the agriculture. Though agricultural income is exempt from tax under sec 10(1), you need to satisfy certain conditions
Introduction Filing the Income Tax Return (ITR) beyond the due date will lead to late fees under section 234F of the Income Tax Act, which
PAN requirement for cash transactions In this article, we will cover PAN requirement for cash transactions. Currently furnishing PAN is mandatory for cash deposits more
Did you know? Unlike basic exemption limit, Rebate under Section 87A is NOT for all Individuals. Section 87A rebate is a tax benefit, which is
In this article let’s discuss in detail, is it mandatory to file Income Tax Return (ITR) for FY 2022-23 aka AY 2023-24 for Individual taxpayers.
Introduction In this article, let’s understand about the Sec 194Q applicability. Sec 194Q of Income Tax Act inserted by Finance Act, 2021 & it is
Income Tax Rates Slabs in India- AY 2021-22 (FY 2020-21) & AY 2022-23 (FY 2021-22) Budget 2020 & Budget 2021 did not specify any changes
How to save capital gain tax on sale of residential property? Introduction Before going on how to save capital gain tax on sale of residential
Form 16 of Income Tax is a certificate provided by the employer to the employee in respect of the income tax deducted on the salary