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Income Tax

Salaried Individual: Income Tax Allowance And Deductions Allowed

Income tax is levied by the government on the basis of the income of individuals, corporations, firms, and other legal entities. Individuals or organizations...

TDS on Fees for Professional or Technical Services under Section 194J

For professionals and individuals who are offering technical services, the Government of India has made it easy to collect taxes by deducting them from...

What is Meant By Corporate Tax? Importance And Features

Corporate tax in India depends on a company's income from business and commercial activities. However, there are several tax rebates and exemptions available that...

Claiming Deduction on Interest under Section 80TTA of Income Tax Act

Section 80TTA of the Income Tax Act allows for a deduction on the interest income. However, there are some limitations and restrictions to the deduction....

How To Check Income Tax Refund Status Online For 2020-21

The filing of annual returns of the Income Tax Department is usually done in the online mode and hence tracking the ITR status for submission, refunds,...

Professional Tax- Understanding Tax Slab Rates, Its Application and Exemption Process

Have you paid close attention to your salary statement? If yes, you would have come across a component which is termed as “Professional Tax”....

Understanding Section 44AB and a Brief of Required Forms

According to the Income Tax Act of 1961, if a person's turnover or gross receipts in a given financial year surpass ₹1 Crore, they...

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