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....

List of GST Returns along with their due dates

With deadline for applicability of Goods and Service Tax (GST) coming near, there's still confusion as to number of return to be filed. This...

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 ...

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...

Restriction on cash transactions under Income tax act, 1961

After the demonetization, Government has earned an important lesson. Keeping the rhetoric aside, it's enlightened to the wisdom of colours in money. Notes of...

Repurchase Options (Repo.) and Ready Forward contracts

These are purchase and repurchase agreements used by money market participants to finance their loans. Such transaction when viewed from the point of view...

Objectives of Accounting Standards

Accounting is a language in itself. It communicates the financial statements of an enterprise. It speaks its financial status. But, as common with any...

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...

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 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...