Brief introduction on Domestic Company under Income Tax Act Meaning​ As per Section 2(22A)​, "domestic company" means an Indian company, or any other company which, in respect of its income liable to tax under this Act,…

Amount paid on life insurance policy [Section 10(10D)]As per section 10(10D), any amount received under a life insurance policy, including bonus is exempt from tax. Following points should be noted in this regard:Exemption is available…

TDS Rates Under DTAA Withholding tax rates CountryDividend(not being covered under Section 115-O)InterestRoyaltyFee for Technical ServicesAlbania10%10%[Note1]10%10%Armenia10%10% [Note1]10%10%Australia15%15%10%/15%[Note 2]10%/15%[Note 2]Austria10%10% [Note1]10%10%Bangladesha) 10% (if at least 10% of the capital of the company paying the dividend is held…

Income of Charitable Institution or Fund [Section 10(23C)(iv)]  Any income of a charitable institution or fund which is approved by the prescribed authority having regard to its objects and its importance throughout India or throughout…

What is capital gain? Profits or gains arising from transfer of a capital asset are called “Capital Gains” and are charged to tax under the head “Capital Gains”. Capital gain is taxable on due basis.A…

1.   Rebate under Section 87A changed from Rs 2,500 to Rs 12,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs (from Rs 3.5 Lakhs) 2.      Standard Deduction raised for Salaried &…

The Indian Culture has thousands of years of history as well as various traditions attached to it. It is also a birth place of many religions like Hinduism, Sikhism, Buddhism etc. Besides, India is a…