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

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

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

Tax audit penalty explained Introduction Who wants to get penalised? Nobody isn't it? So how can you make sure you don'...

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

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...

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

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

Income tax slab India: Individual taxpayers, HUFs, AOP and BOI for the AY 20-21 The Income tax slab is a set of predetermined rates ...