New Provision Of Income Tax

Prime Minister’s announcement of 13th August 2020 comprises of reforms in respect of following four broad areas of work of Income Tax department: 1. Faceless Assessment Scheme, 2. Expansion of …

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New introduced Income Tax scrutiny criteria

Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2020-21 —conduct of assessment proceedings in such cases – regarding. – Cases pertaining to survey u/s 133A …

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How to select right ITR Form

Income Tax Return (ITR) is a form in which the taxpayers file information about his income earned and tax applicable to the income tax department. The department has notified 7 …

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Cost Inflation Index

The price of a product increase overtime, and this brings down the purchasing power of money. Say, if 5 items can be bought for Rs. 500 today, tomorrow you may …

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Capital gain and types of capital gain

The tax that is levied on capital gains is termed as capital gain tax. Such taxes are levied when an asset is transferred between owners. Though all capital gains are …

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What is HUF?

HUF means Hindu Undivided Family. You can save taxes by creating a family unit and pooling in assets to form a HUF. HUF is taxed separately from its members. A …

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