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What is Form 10F and how to file it online

Many individuals, businesses or entities are situated outside India but they have certain incomes arising...

Deduction u/s 80G of Income Tax Act allowable on CSR Expenditure : ITAT

Corporate Social Responsibility (CSR) expenses refer to the expenses that a company incurs to conduct...

What is Form 68 and 270AA of Income Tax 

 Undisclosed income, also known as black money or unaccounted income, refers to income that has...

What are Bad Debts and their treatment under income tax

In the world of businesses and finances, the most feared factor by any establishment is...

Everything about Income Tax Deduction on housing loan

In India, every person who dreams to buy a home has the helping ladder of...

Partnership Firm’s Income Tax Return and Reporting in Partner’s Individual Returns

A partnership firm is a separate legal entity in the eyes of income tax act...

How to file rectification requests online

Simple meaning of rectification is correction of mistakes. In income tax, rectification refers to correction...

Deduction u/s 57 allowed for following mercantile system consistently

Under mercantile system of accounting which is also called as accrual system of accounting, incomes...

What is DTAA (Double Taxation Avoidance Agreement)

It is quite often that people from one nation travels abroad to work and earn...

All about set off and carry forward of losses

There are certain transactions where profits and losses occur during the process. Profits however are...

HRA Calculation and exemptions

House rent allowance (HRA) is a component of salary provided by employer to his employee...

How to calculate income tax on salary?

Majority population of our country is the hardworking class of people who are under employment...

How to give feedback in AIS (Annual Information Statement)

Annual Information Statement (AIS) is a detailed and comprehensive summary of information for a taxpayer...

Adjustment to opening WDV of assets is required in case of new regime is opted for AY 2024-25

Depreciation means reduction in the value of a particular asset due to wear and tear...

TDS Rates issued for FY 2024-25

Deduction of taxes at source is an important source of revenue for government to have...

ITAT allows Bad debts claimed u/s 36(1)(vii) in respect of identified debts

One of the fears every businessperson has is about incurring bad debts and the claim...

All you need to know about AIS TIS 26AS

Government of India with the help of CBDT have aimed at ensuring accuracy, transparency and...
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