Income Tax
What is TDS and How it is calculated?
TDS stands for 'Tax Deducted at Source'. It is a form of direct tax. Every person, before making payments in relation to service taken, dividend, rents, interest, commission, or any such payment as per...
Income Tax
FAQs on New Income Tax Regime u/s.115BAC
What is new Income tax Slab for AY 2020-21?
-> Under existing regime the taxpayers (Individuals and HUF) were taxed @20% with taxable income in the range of Rs 5 lakh to Rs 10 lakh....
Case Laws
25 Latest Income Tax Judgements In India
The year 2019 has been a very significant one to the taxation regime as the government has introduced various revolutionary changes in the laws and rules and regulations.
The contribution of the...
Income Tax
8 Income Tax Judgements and Cases on Previous Demonetisation
PM Narendra Modi may have shocked the nation with his 8 PM, 8 Nov 2016 announcement , but the Prime Minister’s move was not a step which was not known or never done before. India has...
High Court
Section 153(2) – Time limit for AO to complete assessment or reassessment – based on Case laws for calculating the time limit where writ...
1.Section 153 of the Income Tax Act provides the time limit to Assessing Officer within which the Assessing Officer has to complete the assessment or reassessment of the assessee. The matter will be time...
Income Tax
What is New Income Tax Slab for AY 2020-21 in India?
The FM has announced New Income Tax Slab for AY 2020-21 giving taxpayers an option to pay taxes as per the new tax slabs.
Income Tax Slab for A.Y 2020-21 and 2021-22 for Individuals/HUF
New...
High Court
Gujarat high court explains the constitutional mandate of taxation.
A. Facts
In view of the judgment of the apex court, dated 22.09.2017, in case of another dealer, Addl. Commissioner issued revision notice on 06.11.17 u/s 75 of the GVAT Act.
On 16.03.2018, the high court...
Finance
Form 26AS : Now more than just taxes paid history of the Assessee!!
“Question: Hey! What is your Tax History?
Are you compliant and paying Income tax properly??
Tax Payers (before): I do pay taxes regularly, but I
need to check with my accountant whether there are any defaults with...
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