Provisions related to advance rulings under Income Tax Act, 1961

Chapter XIX-B consists of sections related to Advance Rulings. Section 245N to 245V provide a scheme for giving advance rulings. These rulings are for...

Know about TDS on Payments to Contractors and sub-contractors [Section 194C]

Provisions related to Tax Deduction at Source (TDS) that are applicable on payments to contractors and sub-contractors are in Section 194C of the Income...

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...

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...

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...

Know about TDS on Interest other than Interest on Securities [Section 194A]

Section 194A deals with TDS on interest other than the interest on securities. Provisions related to the TDS on interest on securities are in...

TDS on Payment of Dividends [Section 194]

Dividends attract dividend distribution tax @ 15% in the hands of the company. There is no liability to pay tax on individuals receiving it...

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,...

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...

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...