Launch of New e-filing Portal of the Income Tax Department

Launch of New e-filing Portal of the Income Tax Department The Income Tax Department is going to launch its new e-filing portal on 7th June 2021 to make the routine ITRs filing process easier and hassle-free. This is another initiative…

Leave Travel Allowance

Leave Travel Allowance In order to cover the travel expenses incurred by the employee at the time of leave, Leave Travel Allowance (LTA), also known as Leave Travel Concession (LTC), is provided by an employer to employees. Exemption from tax…

Income Tax Jurisdiction

Income Tax Jurisdiction When a taxpayer is filing an income tax return online, there is a need to be aware of the Income Tax ward and the Income Tax circle. The same information is required for applying a new PAN.…

Income Tax eFiling Registration

Income Tax eFiling Registration E-Filing or Electronic Filing is the process of submitting income tax returns online with ease. This skips the tedious way of going to the Income Tax Department Office to file returns physically. The main advantage of…

Section 80CCC Deduction

Section 80CCC Deduction Section 80CCC is a section in the Income Tax Act which allows taxpayers who are earning pension income to claim certain deductions at the time of calculating the taxpayer's taxable income. As a taxpayer in India, the…

Company Income Tax Rate – AY2019-20

Company Income Tax Rate - Assessment Year 2019-20 Companies are the most prevalent and popular form of legal entity for doing business in India. Each year nearly a lakh companies are incorporated in India and the process for incorporation of…

Electoral Trust – Income Tax

Electoral Trust Electoral Trust is a non-profit organization formed in India for orderly receiving of the contributions from any person. Electoral Trusts are relatively new in India and is part of the ever-growing electoral restructurings in the country. Electoral Trusts are…

Form 15CB

Form 15CB - Income Tax Certificate of an accountant ascertaining the nature of remittance and for determining the rate of deduction of tax at source as per provisions of Chapter- XVII-B. Income Tax Form 15CB is a form that is required…