How to Register with Income Tax Authorities

To register online with Income Tax Department, you will need your PAN Details. To Proceed with registration, you can follow these steps: Step 1 Go...

Shortcomings of GST and effect on small entities

This Week has been full of news related to GST. Though believed to be a tough task, it is anticipated to come into effect...

Procedure to check status of Tax refund (Income Tax)

One can check the status of Income Tax refund from TIN-NSDL website. You can click on the below link: Link to TIN-NSDL Refund Status Page On...

Taxation as per Residential Status in India

Residential Status is very important for determining taxability in India. Provision related to residential status is in Section of Income Tax Act, 1962....

Mandatory Linking of Aadhaar and Exemptions from Income Tax Department

With Aadhaar being mandatory for filing ITR, there are several consequences for not linking the same. Below is in detail consequences. Most immediate impact...

TDS on Winnings from Lotteries, crossword puzzles and horse races [Sections 194B and 194BB]

Any income from winnings from lotteries, crossword puzzles, card games and other game of any short, races including horse races, etc., is chargeable to...

How to Reset Login of Income Tax E-filing Website

It may be very often that you forget your password for Income Tax E-filing Website. Since it is needed only a few times a...

Settlement of Tax Cases under Income Tax Act, 1961

We all know that Income Tax Laws are very complex. Often, knowingly or unknowingly there are many lapses in compliances. Income Tax is a...

How to calculate WDV Rates for Depreciation

Straight Line Method (SLM) and Written Down Value (WDV) methods are the most used methods for calculating depreciation. Although Companies Act doesn't require any...

Know about TDS for Interest on Securities [Section 193]

Interest on Securities is taxable in India. Further, Section 193 of the Income Tax Act, 1961 provides for Tax Deduction at Source. This section...