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...

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...

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....

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...

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...

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...

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...

What Are the Best Indian Stocks to Buy in 2020?

Let’s starts with an example. {Don’t be sentimental, please take it as an example only} When my grandfather went to the market to buy something, most of the FMCG products were available from Hindustan Unilever....

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