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...

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...

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....

Residence in India as per Income Tax Act, 1961

The residential status of an individual is very important as per Income Tax Act, 1961. Provisions relating to residential status is in section ...

Income Tax Rate for FY 2017-18 or AY 2018-19

There are many changes in Tax rate. One of the biggest change is that now tax rate for slab of ₹ 2,50,000 – 5,00,000...

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...

A brief information about Income Tax Authorities

Income Tax Act, 1961 is the main law dealing with Income Taxes in India. There are several rules made under this Act and are...

How to verify cash transaction post demonetisation with Income Tax Authorities

After demonetisation people rushed to deposit their underlying cash. They deposited their scrapped currency notes in their Bank Accounts. Government Agencies haven't yet released...

TDS on Insurance Commission [Section 194D]

Section 194D deals with Tax Deduction on payment of insurance commission. This section casts responsibility on any person responsible for paying to a resident...

Overview on Powers of Income-tax Authorities

Section 131 to 136 deal with powers of Income-tax Authorities. Below are the headings of these sections. Sections Heading 131 Power regarding discovery, production of evidence,...