At the time of penning this, the COVID-19 crisis is increasing exponentially all over the world. Global leaders and organizations are doing their best to manage this crisis. Even so, the boundaries are getting severely stretched. However, it is not just a macro crisis that needs to be handled at a global level.
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
In India we have two corresponding sections under the Income Tax Act, 1961 which allows fixed deduction irrespective of expenses to the c...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Every assessee is liable to get refund of extra taxes paid on their income as per the provisions of Income Tax Act, 1961. Further, to cla...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
As per the Income Tax Act, 1961 qualifying age limit of senior citizen is 65 years means a person who is 65 years or more at any time dur...
News & FAQs | By ALOK PATNIA | Last updated on Mar 28, 2017
In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government h...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Burden of medical expenses incurred towards health insurance premium can be reduced through tax deduction under section 80D of the Income...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
HUF can be used as a means of effective tax planning. Under the Income Tax Act, 1961 HUF is treated as a separate entity for the purpose ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Under the Income Tax Provisions, in certain situations, the income of spouse and minor child is combined with that of the individual’s ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Dividends declared by domestic companies are exempt from tax in the hands of shareholders. This is so because as per the income tax, an i...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Salaried individuals adopts various ways to reduce taxes by opting new age tax saving tools, which sounds good but may not yield the desi...