Post by: Dinesh Pandiyan in Income Tax
Section 80GGA: Tax Deductions for Donations of Scientific Research Section 80GGA of the Income Tax Act allows taxpayers to claim tax deductions for donations given to scientific research or rural development. By claiming deductions under this section, taxpayers can reduce their…
Post by: Sanya Warriar in Income Tax
How do I know if I have an Income Tax Notice? When a taxpayer files an Income Tax Return (ITR) with the department, the department processes the return. It may issue a notice to the taxpayer, which could…
Post by: Sanya Warriar in Income Tax
What happens if we do not respond to Income Tax Notice? Income Tax Notice is a correspondence sent by the Income Tax (IT) Department when they want to raise an inquiry against the returns filed by the taxpayer. There are…
Post by: Sanya Warriar in Income Tax
What is Income Tax Notice? An Income Tax (IT) Notice is a communication sent by the Income Tax Department when they have questions or need more information about a previously filed Income Tax Return(ITR). These notices may ask the taxpayer…
Post by: Rita Seal in Government Initiatives
Reduced Rate Of EPF Contribution & Impact On Stakeholders The cash flow crunch due to the imposition of the Covid -19 national lockdown across the nation has drove the Indian Government to announce the Atmanirbhar Bharat Stimulus Package that also…
Post by: Sreeram Viswanath in Compliance Income Tax
Section 94A of Income Tax Act Section 94A of the Income Tax Act empowers the Indian Government to issue a notification to any of the applicable countries that fail to provide assistance in relation to the issue of the mandatory…
Post by: Chris John in Compliance Income Tax
Income Tax for Freelancers Freelancing has emerged over the past few years as a significant source of income for several taxpayers across India, especially for the younger generation. The significant advantage that the freelance sector has is the benefit of…
Post by: Chris John in Startup India Registration
Section 80-IAC: Tax Incentives for Startups To initiate the development of startups in India and provide a competitive platform for businesses which are newly established to thrive amidst the aggressive business atmosphere, the Government of India has introduced Section 80-IAC…
Post by: Sreeram Viswanath in Income Tax Personal Finance
Section 80GGC of the Income Tax Act Section 80GGC of the Income Tax Act provides a deduction for taxpayers who have donated to political parties. The quantum of contribution can be extended up to a maximum of 10% of the…
Post by: Shushma in Agriculture Income Tax
Section 80P - Income Tax Section 80P is a section in the Income Tax Act which offers a tax deduction for co-operative societies which are engaged in the specified agricultural activities. Section 80P deduction is available only to primary agricultural…
