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Who Can Claim Benefits Under Section 90 of Income Tax Act?
The section 90 of Income Tax Act has been enacted to avail relief from double taxation for Indian resident based on income sources of income received among other countries. The…
Income Tax
What is Marginal Relief in Surcharge on Income Tax?
Understanding surcharge on income tax has been very important for Indian taxpayers who have an annual income exceeding well-defined levels. This tax is an extra tax charged on top of…
A Practical Breakdown of Section 194C of Income Tax Act for Work & Labour
Running an Indian business involves a lot of payments to the contractors for their work or labour. The section 194C of Income Tax Act provides for payment of tax to…
What Penalties Can You Face Under Sec 270A of Income Tax Act?
Tax penalties often result from tax fraud, but as often as not, from ineffective knowledge of rules on assessment and reporting requirements. The sec 270A of Income Tax Act was…
Who is Covered Under Sec 111 A of Income Tax Act?
Understanding short-term capital gains taxation is important when equity investments form a part of regular income planning. The sec 111 A of Income Tax Act plays a focused role in…
When Does Section 112A of Income Tax Act Apply?
The section 112A of income tax act plays an important role in taxation of long term capital gains from equity investments in India. This provision has a direct impact on…
When is a Notice Issued Under Section 156 of Income Tax Act?
A notice under section 156 of income tax act is an official notice sent by the Income Tax Department, demanding payment of tax, interest, penalty, or an amount due following…
How Does Section 142(1) of Income Tax Act Affect Assessment?
Assessment proceedings often start with a formal solicitation of facts, records and explanations. For the Indian taxpayers, a proper understanding of the working of section 142(1) of income tax act…
How Does Section 43B of Income Tax Act Work?
Every business owner wants assurance when it comes in closing books at the end of the year. The section 43B of income tax act is there to eliminate this grey…
Section 194C TDS: Applicability, Rates & Key Rules You Must Know
Understanding tax deduction and all this is part of the day to day business of India. This is where Section 194C TDS comes in the situation Payments to contractors are…