Section 80C to 80U Deduction [FY 2023-24]
Income Tax deductions specified under Chapter VIA of the Income Tax Act Income tax deductions will not be available to a taxpayer opting for… Read More »Section 80C to 80U Deduction [FY 2023-24]
How To Link Aadhaar With PAN
Link Aadhaar With Pan User Manual 1. Overview For new applicants of PAN card, the Aadhaar PAN linking is done automatically during the application stage.… Read More »How To Link Aadhaar With PAN
Filling Return of Income
ITR stands for Income Tax Return. For Income tax return filing It is a prescribed form through which the particulars of income earned by a… Read More »Filling Return of Income
Marginal Relief: Under Income Tax
What is marginal relief and how it is computed? The concept of marginal relief is designed to provide relaxation from levy of surcharge to a… Read More »Marginal Relief: Under Income Tax
Agriculture Income in Income Tax
Agriculture Income Introduction A. Income derived from land can be termed agricultural income if the following conditions are satisfied: Rent or revenue should be derived… Read More »Agriculture Income in Income Tax
Input Service Distributor in GST
Introduction Input Service Distributor (ISD) means an office of the supplier of goods or services or both which receives tax invoices towards receipt of input… Read More »Input Service Distributor in GST
Salary Allowance : [Taxable and Non Taxable Allowances]
Salary allowances refer to additional payments or benefits that are provided to employees on top of their basic salary. These allowances are designed to compensate… Read More »Salary Allowance : [Taxable and Non Taxable Allowances]
Salary Taxable Income
What is considered as salary taxable income? Section 17 of the Income-tax Act defines the term ‘salary’. However, not going into the technical definition, generally… Read More »Salary Taxable Income
Section 80TTA of Income Tax Act
Section 80TTA Income Tax Act allows a deduction of up to Rs. 10,000 from the taxable income for interest earned on savings accounts What… Read More »Section 80TTA of Income Tax Act
FAQ on Section 54GB-Capital Gain Exemption
Introduction The Income-tax Act allows exemption from capital gains tax if the amount of capital gains or sale consideration, as the case may be, is… Read More »FAQ on Section 54GB-Capital Gain Exemption