Income Tax
What is TDS on Dividend Income and Its Impacts on Shareholders?
In the earlier tax regime, after corporate tax of 25% to 30% (effectively 33.99% including surcharge and cess), the Company was also liable to pay Dividend Distribution Tax (commonly known as DDT) to the...
Income Tax
What is TCS Tax? The Amendments of Tax collected at Source.
Introduction to Tax Collected at Source
Tax Collected at Source(TCS) is the concept wherein the seller collects a percentage of tax from the buyer on the sales amount.
The tax collected by the seller is then...
Income Tax
What is faceless tax assessment or e assessments In Income Tax?
A Modern Generation of TRUST, TRANSPARENCY and TAX
“A lot of things would depend on the discretion of assessing officer in manual assessment. We have completely revamped it. Instead of territorial jurisdiction, we have brought...
Income Tax
Return filing is not easy anymore!
The government has made many changes in Income Tax Returns and reporting of various details are made compulsory since last two years. Also the government wants to link all the details such as bank...
Income Tax
Manner of computing disputed tax in cases where loss or unabsorbed depreciation is reduced – Vivad se Vishwas Scheme.
The Direct Tax Vivad se Vishwas Act,
2020 introduced a dispute resolution scheme, which was applicable to all
appeals/petitions filed by the taxpayers or the income tax department, which
were pending until 31 January 2020, before any...
Income Tax
Date of Allotment to be considered for calculating Holding period even if Date of possession is later.
Capital gain is the profit or gain that is earned from the sale of any capital asset. There are two types of capital gain: a) long term capital gain and b) short term capital...
Income Tax
What is the E-assessment scheme and the government’s approach for the same?
With the aim to Digitalize India, the Indian government has undertaken various reforms in the Tax department. With the main objective of consistency and greater transparency in the system of assessment, the Finance minister...
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...
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