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A joint Tax Awareness Programme was conducted in Shopian, organized by the Shopian District administration in collaboration with the Income Tax Department. A team of officers and officials from the Income Tax Department, led by Shakil Ahmad Ganie, Deputy Commissioner of Income Tax Srinagar, visited Shopian to interact with local taxpayers, Drawing and Disbursing Officers […]
“The law of income tax is enriching. As intriguing as it is, the more one learns, the more he seeks to learn” In the former articles, we discussed the income tax law and now wrote an article concerning the ancillary provisions as included in the Income Tax Act of 1961 itself. The same act consists […]
The Income Tax Appellate Tribunal (ITAT), Mumbai held that the procurements towards the Book Profit not applicable during no income tax payable on the normal procurements of the Act. The taxpayer is the owner of Batliboi Limited is a public ltd firm that makes machine tools, textile machines, Air conditioning & Refrigeration work, Casting & […]
This article is going to be helpful for taxpayers confused about the provisions under Sections 111A, 112, and 112A of the Income Tax Act, 1961 regarding the capital gains taxes of Shares, Debentures, Mutual Funds, and other types of movable and immovable properties. Need Demo of Income Tax Compliance Software Section 111A Under Income Tax […]
TDS is an acronym of Tax Deducted Source (TDS) which was implemented by the Indian government to collect taxes from sources on the income earned by an individual.
In this post, we have discussed the income tax provisions for doctors that should be remembered with the tax presumptive scheme. Doctors perform noble and busy professions in the country. They work for approximately 9×7 hours a week and maybe more to help the people in the fight against their sufferings. They really do not […]
The Union Budget each year includes revisions that affect taxpayers, businesses, and tax professionals. The Budget 2026 is the same; it includes updates to tax rates, rules, and deductions that everyone must understand and follow. Tax software is important because it helps turn these budget amendments into easy-to-use systems, making it easier for people to […]
President Droupadi Murmu announced that the Union government is committed to making significant changes that will positively impact the lives of poor and middle-class citizens. These changes include new tax reforms that aim to make the tax system fairer and more efficient, helping to ensure that more people benefit from government policies. The President, addressing […]
The Telangana High Court has held that revenue generated from the sale of tissue-cultured plants is categorised as farming income and is thus exempt from income tax under section 10(1) of the Income Tax Act, 1961. The Bench of Justice P. Sam Koshy and Justice Narsing Rao Nandikonda has said that the statutory test is […]
