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Old and New Income Tax Slabs and Rates for the F.Yr.2022-23 [A.Yr.2023.24]

Form 26AS is a much talked about Form in Income Tax these days.

One of the most essential thing for filing an Income Tax Return and also for getting hassle free tax refund is that your bank account should be prevalidated at the new income tax portal.

The Indian Income Tax return needs to be e-verified so that the ITR filing process is complete from our end.

Updated Income Tax Return u/s 139(8A) of the Income Tax Act - provisions and analysis

This Article details some common non-taxable income as per section 10 of the Indian Income Tax Act.

How a non-resident is taxed under Indian Income Tax. We take a look at different provisions.

This post describes all about Form 16 relating to salaried employees under Income Tax Act

It is common that salaried employees get arrears relating to different years. The arrear puts extra burden of tax in a particular year. How to avail relief of arrear u/s 89 of Income tax - Lets know

All about gratuity provisions under Income Tax

House Property Taxation has many interesting aspects under Income Tax. We take at look at those in detail here

For Small Businesses, presumptive taxation scheme is available u/s 44AD of Income Tax which provides relief from maintaining books of accounts

Scheme of deeming profits u/s 44E for business of plying, hiring and leasing of goods carriage for owners having upto 10 goods carriage

Here in this article, we will take the taxation aspects of Speculative transactions and Speculation Income/Loss.

Provisions relating to capital gains on sale of Residential House Property is being discussed here

All about Incomes chargeable to tax under Income from Other Sources

Section 54F of the Income tax provides for exemption in case of capital gains which arise on sale of any logn term capital asset (other than residential house).

In our earlier article, we have learned that there is no capital gains on sale of Agriculture land situated in any rural area. However such land if situated in urban areas is subject to capital gains tax.

Persons not claiming exemption under HRA are allowed to claim deduction u/s 80GG of Income Tax - Have a look at that

NPS deduction is allowed over and above 1.5 lacs i.e. upto Rs.2 lacs. Do you want to know more about it.

Mediclaim is very important for coverage of finances for personal health. Income Tax provides deduction on account of payment of Mediclaim premium.

Section 80EEB prescribes deduction of interest on loan taken by an individual for the purchase of Electric Vehicle.

All about inter-corporate dividend deductions

Section 80TTB of the Indian Income Tax Act provides for deduction of interest on deposits made by Senior Citizens . Here we look at this provision in detail.

New Tax regime provides different tax slabs under Income Tax. However most of the deductions are not available. How it works ? Lets take a look at provisions

Income Tax Act,1961 of India prescribes Interest on tax when there is default in furnishing of Return of Income within the due date.

All about Interest u/s 234C of Income Tax Act

All about refund reissue request under Income Tax

Looking for 12A Registrations under Income Tax ?

What are the essential ingredients of GST invoicing ? Read to know more

Just as credit notes, Debit notes are also very important aspect of GST invoicing. Learn more here

QRMP Scheme related under GST

GST on Import of Goods and Services

Concept of place of supply under GST - An analysis

All about time of supply of goods under GST

Detailed Analysis of Exemptions provided under GST

Activities or transactions to be treated as supply of goods or supply of Services

Detailed look at Composite and Mixed Supplies under GST

All about TAN i.e Tax deduction or collection Account No. under Income Tax Act,1961

This article describes complete provisions and procedures relating to TDS on Salaries

All about TDS on Interest other than Interest on Securities as per Section 194A

All about TDS on Commission paid in respect of Section 194H

TDS provisions relating to payment made by purchaser for purchasing of Immovable Property (other than agriculture land)

TDS on Fees for Professional or Technical Services as per Section 194J of the Income Tax Act,1961

TDS on payments made by Banks, Post Offices & Co-operative Societies in cash above 1 crore is liable for TDS

TDS on Sale/transfer of Virtual Digital Assets

TDS provisions with respect of payments made for purchase of goods

Annual Information Statement - Check this before Income Tax Return filing for F.Yr.2022-23

All about Advance Income Tax under Indian Income Tax Act - Provisions and details

One of the most essential thing for filing an Income Tax Return and also for getting hassle free tax refund is that your bank account should be prevalidated at the new income tax portal.

Here you can know the jurisdictional details of Assessing Officer under Income Tax

This Article provides complete details about provisions and procedures relating to PAN-Aadhar Linking

The charging of Income Tax on any person depends on its residential status in India. Here we look at how the residential status of a person is determined.

This page describes all about Salary Income under Income Tax Act of India

House Rent Allowance is an important allowance which can be claimed as exemption by Salaried employees paying rent.

All about Standard Deductions from Salary Income

Leave encashment can be taxable at the time of retirement - want to know more

Provisions relating to Deductions from House Property Income as per Section 24 of the Income Tax act

Presumptive taxation scheme for small notified professionals having gross receipts upto Rs.50 lakhs

We look at provisions relating to treatment of Futures and Options income/loss under Income tax act.

Capital Gains impacts everyone of us in our life - Be it property sale, shares/securities sale etc. The provisions relating to taxation of capital gains in Income Tax is detailed here

How gifts received on occassions, marriage, will etc. are dealt in Income Tax. We take a look at those here

In this post, we will look at what is short term and long term capital gains under Income Tax in India. These are very relevant concepts as the taxation rate and treatment of both are different.

All about exemption u/s 54EC regarding investment in Capital Gains bonds

The major deductions relavant for common people which are available for tax savings in India are outlined here.

All about Section 80DDB of Income Tax

Interest paid on Higher Education loan for self or dependent is allowed under Income Tax. The details are provided hereunder :

Section 80DD of Income Tax Act provides deduction in respect of maintenance and medical treatement of dependant who is a person with disability.

There are two sections under which deduction is allowable in respect of contributions made to any Political Party. Let us analyse them -

Section 80TTA of the Indian Income Tax Act provides for deduction of interest on saving banks. Here we look at this provision in detail.

Section 80U of the Income Tax provides for deduction in case of person with disability

After having filed the Income Tax return, the most common notices which the taxpayer may receive is regarding the defective return u/s 139(9).

All about Interest u/s 234B of Income Tax Act

All about late filing fee for Income Tax Return

All about 80G registration under Income Tax

All about Set off and Carry forward of losses under Income Tax

GST credit notes are very relevant and it differs from non-gst credit notes. How and what are the differences. Read to learn more.

For taxpayers having annual turnover less than 1.5 Crores, composition scheme is available under GST which is easy to comply. Want to know more ?

Provisions of Input Tax Credit under GST

GST on Exports of Goods and Services

Concept of Place of Supply of Services under GST

All about time of supply of Services under GST

Activities which are treated as Supply even if made without consideration

ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES

This Articles give detailed analysis of Blocked credits under GST

This post describes how the interest on delayed payment of TDS is levied

All about TDS on Dividends received by Shareholders

All about TDS on payments made to Contractors for work under Section 194C

All about TDS provisions on Rent

TDS is required to be deducted by Individual or HUF on rent payments above 50000 even if not falling under Section 194I

There is requirement of TDS on certain payments by certain Individuals and HUF as per Section 194M

All about Tax collected at Source

Tax Deduction on benefits or prequisites paid in respect of business or profession - newly introduced Section 194R

Section 194P inseted w.e.f. 01-04-2021 in respect of TDS in case of Senior Citizens above 75 years who are not required to file ITR