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...

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...
TDS on Salary of Employees

Know about Deduction of TDS on Salary

Section 192 of the Income Tax Act, 1962 deals with the provisions related to TDS in the case of Salary. Highlights of this section...

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...

Procedure of making application for advance ruling under Income Tax Act, 1961

Provisions related to Advance Ruling under Income Tax Act, 1961 are contained in section 245N – 245V. For brief contents of the section, you...

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...

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...

Jurisdictions of Income Tax Authorities

Section 120 deals with Jurisdictions of Income Tax Authorities. Income tax authorities shall exercise all or any of powers and functions conferred upon 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,...

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 ...