by CA Chinmay Shirish Agate | Aug 11, 2024 | Taxation
Under the Income Tax, total Income Tax liability is calculated on the total income earned during a particular Financial Year. However, if the income for the particular Financial Year includes an advance or arrear payment in the nature of salary, the Income Tax Act...
by CA Chinmay Shirish Agate | Aug 10, 2024 | Taxation
Out of certain specific exempt incomes given under Income Tax Act, 1961, Agricultural Income is one of the most important one. As per Section 10(1) of the Income Tax Act, agricultural income is exempt from income tax and is not included in the total income while...
by CA Chinmay Shirish Agate | Aug 9, 2024 | Taxation
Assets creation is considered as one of the important achievements for any person. Once you have created an asset, its value appreciation or depreciation depends on the factors related to it. At the time of selling or disposing off such asset, one may have to bear...
by CA Chinmay Shirish Agate | Aug 8, 2024 | Taxation
The word “refund” catches the attention of almost every other taxpayer like no other word can. A refund is the excess amount of taxes paid than what was the actual tax liability. However, receiving this refund is not an easy task as it sounds. The perfection in filing...
by CA Chinmay Shirish Agate | Aug 7, 2024 | Taxation
The Senior Citizen Savings Scheme (SCSS) is a government-backed savings scheme in India designed specifically for senior citizens. It provides monthly and periodically assured and regular income to senior citizens. Age considered for eligibility under this scheme is...
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