Tax

Section 271C Of Income Tax Act Section 271C of the Income Tax Act establishes the law governing the penalty that the Income Tax Department may levy for failing to deduct…

Taxation Of Donations Received By Charitable Institutions Section 164 is explained in this article (2). The section discusses the taxability of charitable trust income. The income of a charitable trust…

TDS On Bank Deposit & Interest The Income Tax Act makes interest income from bank deposits and other types of securities taxable. As a result, banks or financial institutions that…

Penalty For Under-Reporting Or Misreporting Income Section 270A of the Income Tax Act imposes a penalty for under-reporting or misreporting income. The section is operational beginning with the assessment year…

TDS On Professional And Technical Services Section 194J of the Income Tax Act of 1961 addresses the deduction of tax at source for fees for professional or technical services. When…

Mistake In Income Tax Order An income tax order is a communication sent by an assessing officer to a taxpayer alerting them that a specific amount of tax is due.…

What Is Section 194H? Section 194H applies to income tax deducted on commission or brokerage revenue by any person responsible for paying to a resident. Individuals and Hindu Undivided Families…

TDS On Insurance Commission When it comes to minimizing the financial impact of medical emergencies, insurance may go a long way. As a result, it is prudent to obtain insurance…

Income Tax Appeals To The High Court Taxpayers have the right to file an appeal with the High Court if they disagree with the Appellate Tribunal's decisions. Not every appeal…

Income Tax Appellate Tribunal And Appeals The Income Tax Appellate Tribunal (ITAT) is a quasi-judicial tribunal that handles appeals against rulings issued by income tax authorities. A taxpayer may submit…