Return Filed under Section

Return Filed under Section - Income Tax Filing While filing income tax return, one of the mandatory fields that must be completed by the taxpayer is "Return filed under Section". In this article, we look at the different types of…

Income Tax on Foreign Income

Income Tax on Foreign Income Under the Income Tax Act, tax liability is determined based on the residential status of a taxpayer. The residential status under Income Tax Act, is divided into three categories namely: Resident but not ordinarily resident;…

Gratuity

Gratuity Formula & Calculation Gratuity is a type of payment made by the employer to an employee for long services rendered by him. Gratuity may be received by an employee on his retirement or on his becoming incapacitated prior to…

AOC-4

AOC-4 Filing The financial statements of a company must be filed with the Ministry of Corporate Affairs every year. The MCA form for filing financial statements is AOC-4. Hence, Form AOC-4 is submitted with the MCA for each Financial Year…

Income Tax on Dividends

Income Tax on Dividends Dividend is the sum paid to a shareholder of a company proportionate to his/her shareholding in the company. Dividends received by a taxpayer in India can be divided into three types as follows: Dividends from a…

Foreign National Income Tax Filing

Foreign National Income Tax Filing Foreign nationals are individuals who are not citizens of India. Income and capital gains earned by a foreign national in India is taxable under the Income Tax Act. Hence, foreign nationals who have an income…

Income Tax Attachment & Recovery

Income Tax Attachment & Recovery Taxpayer in India are required to efile income tax return each year and pay advance tax. Failure to pay income tax or file income tax return could lead to income tax attachment and recovery. In…

GSTR1 Due Date – Less than Rs.1.5 Crore Turnover

GSTR1 Due Date - Less than Rs.1.5 Crore Turnover In the 23rd GST Council Meeting, the Government has announced various changes to the GST return filing due dates to help businesses adopt to the new indirect tax regime. Businesses having…

GSTR-1 Return Due Date – More than 1.5 Crore Turnover

GSTR-1 Return Due Date - More than 1.5 Crore Turnover In the 23rd GST Council Meeting, the due date for filing GSTR-1 return was extended. Currently, GSTR1 return for July, August, September and October month is due on or before…

Which Type of Tax Return Do I File?

Which Type of Tax Return Do I File? Before you begin Income Tax E-Filing it is important to understand which type of income tax return is applicable to you. Following the changes that were made by the Income Tax Department of…