INCOME TAX CATEGORY
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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
INCOME FROM HOUSE PROPERTY Income From House Property:– Taxable Income under the head “house property” Rental income from a property being land or building appurtenant there to of whic... Read more
Payment of advance tax on Senior Citizen Payment of advance tax–As per section 208 of Income Tax Act, every person whose estimated tax liability for the year is 10,000 Rupees. or... Read more
CBDT Extends Due date to file income tax returns CBDT Extends Due date to file income tax returns for AY 2019-20 from 31st July 2019 to 31 August 2019. The government on Tuesday extended the... Read more
Section 80EEA of Income tax Act, Deduction in respect of interest on loan taken for certain house property. In computing the total income of an assessee, being an individual not eligible to... Read more
Taxability of life insurance maturity amount As per section 10(10D) of income tax act, any amount received under a life insurance policy, including bonus is exempt from tax. However, followi... Read more
Eligible Business under section 44AD The presumptive taxation scheme of section 44AD of income tax Act 1961 can be adopted by following persons: Resident Individual Resident Hindu Und... Read more
What is pre-construction period? While computing income chargeable to tax under the head “Income from house property” in case of a let-out property, the taxpayer can claim deduct... Read more