The latest articles, guides, news and notifications related to Income Tax.
Changes made in the Budget 2018 Summary of the Budget 2018:- Income Tax Slabs remain unchanged Cess on Income Tax hiked from 3% to 4% Standard deduction of 40,000 in lieu of transport allowance and other medical expenses. Reintroduction of … Continued
Introduction – Taxes are a primary source of funds for the Government. Besides the basic exemption limit, one can avail additional deductions. You need to invest in specified securities in order to take advantage of these additional deductions. In this … Continued
Advance Tax What is advance tax? Simply put, it is an advance payment of tax. Instead of paying your taxes in one go at the year end, it has to be paid in installments. This scheme is also known as … Continued
Section 44ADA – Special provision for computing profits and gains of profession on presumptive basis. There are good number of compliances under the Income Tax Act. These include maintaining a proper set of books of accounts, getting these books of … Continued
Section 44AD of the Income Tax Act, 1961 – Section 44AD, a scheme launched for the benefit of small businesses, wherein the assesses which are eligible for the scheme do not have to maintain books of accounts and file returns … Continued
Section 44AD Read more here Section 44ADA Read more here Section 44AE Read more here