Section 44AB of Income tax act Introduction Some burning questions of every person carrying out a business or a profession, ...

If the person is carrying on a business or profession and is required to get its accounts audited mandatorily under any law other tha...

Ever thought the tax implications on your salary when you deny your salary or pay back your salary to your employer?  What is foregoing...

HRA Exemption rules There are 3 types of allowances in Income tax Taxable allowances Partially taxable allowances Fully exe...

Surcharge income tax In India, the concept of surcharge for the taxpayers on the basis of categorization was introduced by Finance A...

Tax-free allowances in India There are 3 types of allowances Fully taxable allowances Partially taxable allowances Fully exempt all...

Tax audit limit for Chartered Accountants Ever wondered how many tax audits a Chartered Accountant is eligible to take? Is there a li...

ICDS Applicability (Income Computation and Disclosre Standards) As per sec 145 of the income tax act 1961, an assessee having taxab...

Presumptive tax scheme Under section 44AD, every person engaged in business having turnover of upto 2 crores can opt for this scheme a...

The introduction of the Interim Budget this year by our honourable Finance Minister Piyush Goyal has provided a great relief to the taxp...