INCOME TAX CATEGORY
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What are the provisions framed under the Income tax law/Act in relation to carry forward and set off of business loss other than loss from speculative business? Set off of business loss... Read more
Whether goods sent by a taxable GST person to a job worker be treated as supply and will they be liable to Pay GST? No, the goods sent by a GST registered person to a job worker is not a sup... Read more
When relief under section 89 of the Income Tax Act 1961 is available? Section 89– Relief under section 89 of Income tax act is available to an individual if he has received Received... Read more
Do any clubbing provisions exist in case of transfer of income without transfer of asset in Income tax Law ? As per section 60 of income tax act, if a person transfers income from an asse... Read more
What is the time limit for making the assessment under section 143(3)of income tax act i.e. scrutiny assessment? Section 143 (3) Assessment mean:- This is a detailed assessment and is ref... Read more
Scope of assessment under section 143(1) Income Tax Assessment under section 143(1) of IT Act is like preliminary checking of the Income Tax Return. At this stage no detailed scrutiny... Read more
Presumptive Taxation Scheme of section 44AD Section 44AD:- Meaning of presumptive taxation scheme- As per sections 44AA of the Income tax Act, 1961, a person engaged in business or profes... Read more
Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs The Government has brought in the Taxation Laws (Amendment... Read more
Article on Tax audit Tax audit Meaning The dictionary meaning of the term “audit” is check, review, inspection, examination etc. There are various types of audits prescribed u... Read more