Clubbing of income defines as Income of other person includes in assessee’s total income, for example: Income of husband which is shown to be the income of his child is clubbed in the income of Father and is taxable in the hands of the Father

Capital Asset. Therefore, on a sale of Capital Asset there is no Capital Gain. Before discover how your Capital Gains shall be taxed, do ensure Income Tax considers your asset to be a Capital Gain.

Deductions refers to claims created to cut back your rateable financial gain, arising from numerous investments and expenses incurred by a payer.

Similarly, if persons who is required to furnish income tax return or who intend to enter into financial transaction for which it is mandatory to obtain PAN.

Applicability of Forms 15CA & 15CB - While any resident make payment to Non- Residents shall deduct TDS on that payment if such sum is chargeable to Income tax then the withholding amount of tax should be declared in Form 15 CA & 15 CB.

According to the new Budget 2020 proposals, clarification made by the Central Board of Direct Taxes CBDT, Mutual funds or companies shall impose TDS (TAX Deducted at source) to be deducted at the rate 10%

Are you in the plan of establishing a startup and concerned about various laws to comply with? If yes, don’t worry, we are here to help you with all the Startup compliance.

In some cases there is a difference between the number of expenses or incomes that are considered in books of accounts of the assessee and the expenses or incomes that are allowed/disallowed as per Income Tax Department.

UDIN Unique Document Identification Number -The Institute of Chartered Accountants of India (ICAI), has developed a method for verifying the records Issued by a Chartered Accountant by Issuing a Unique Document Identification Number (UDIN)

DDT - Dividend Distribution Tax Remove in Budget 2020- The union budget 2020 has proposed to wipe out the DDT system for dividends paid on or after 1 April 2020.

New Income Tax Slabs & Tax Rate in India for FY 2020-21, Income Tax Slabs and Rates for F.Y. 2019-20(A.Y. 2020-21)(Current FY) & Budget 2020. Income Tax Rates for AY 2020-21.

Corporate Tax Exemption for Companies and Startup India in Budget 2020It means to those taxes that businesses must compensate as a general part of business operations.

TDS has to be deducted when he pays the seller. TDS @ 1% should be deducted by the purchaser of the property at the time of payment of sale consideration.

union budget 2020 highlights income tax - Here are all the key highlights of Union Budget 2020 from Nirmala Sitharaman's. Understand how Union Budget 2020 will impact you, new Income tax slab announcement etc.

The CBIC shared an image of the tweet and said, "FORM GSTR-1 late fee waiver scheme has ended on 17th January 2020. No further extension has been given. A fake tweet in this regard has been circulating in social media."

The Central Board of Direct Taxes (CBDT) has notified Income Tax forms – ITR 1 and ITR 4 for A.Y. 2020-2021 well in advance