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
All income which arises or accrues to the minor shall be clubbed in the income of his parent. However, the income derived by the minor fr...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
A source of income which does not specifically fall under any one of the other four heads of income, namely “Salariesâ€, “Income fro...
News & FAQs | By ALOK PATNIA | Last updated on May 14, 2011
Tax audit is done u/s 44AB of the Income Tax Act, 1961 to minimise the burden of Assessing Officer (A.O.) because the auditors are requir...
News & FAQs | By ALOK PATNIA | Last updated on May 14, 2011
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department. ...
News & FAQs | By ALOK PATNIA | Last updated on May 14, 2011
A tax refund is an amount, which denotes the excess of taxes paid over the actual tax liability. The process of getting tax refunds from ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Most of the employees are entitled to certain no. of leaves per month/annum and leave encashment is simply encashing leaves remaining unu...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Profit in lieu of salary is a part of salary income and accordingly it is taxable under the head “Income from Salaryâ€. Profit in lieu...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Government has provided great relief to most of the salaried class individuals by proposing that the individuals whose annual income is u...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Individuals are required to file their income tax return if the income before allowing deductions under chapter VIA and exemption u/s 10A...