Category: Knowledge Desk

Income tax salary return filing is an easy task compared to other income tax returns, like income tax capital gains returns, and income tax business returns Continue reading “How to file income tax salary return ?”

Introduction to capital gains

Capital gain taxation is introduced in order to tax transactions involving capital assets that are considerably valued higher in a practical sense. Continue reading “Capital gains tax on sale of property”

Income tax return filing is one of the top priorities for every business intending for proper compliance. The importance of income tax filing is well known by businessmen who wish to expand their business Continue reading “Importance of optimizing income tax and loan goals”

Section 142(1) notices are one of the important and frequently sent notices to the assesses, it is one of the important notices sent requiring the assessee to furnish the return of income or provide such other documents required to be submitted. Continue reading “Why Income tax department send notices Under Section 142(1) ?”

Cash is the most liquid asset in the world and gives much more flexibility in business and personal transactions due to its acceptance and its ability to be used for transactions with anyone and in any situation. Continue reading “Deep analysis of cash transactions under income tax”

Income tax is normally paid after the end of the financial year, however, if the estimated net tax liability is Rs.10,000 or more during the financial year then the taxpayer should pay tax in the same financial year Continue reading “What is advance tax and how to calculate ?”