What Is The Applicability Of Tax Audit For A.Y. 2020-21?

Let’s understand the applicability of tax audit for A.Y. 2020-21 in detail. Basically, this audit is mandatory to only particular taxpayers who exceed the respective limits given by the Income Tax Department. This audit is conducted by the Chartered Accountant (CA) to verify / examine / review the accounts of…

Which ITR Form should I choose?

Everyone says that they want to file their own or their company’s Income Tax Return (ITR) but do you guys actually know which ITR form is applicable to you? Or what are the types of ITR forms? Or how to understand in which category of ITR forms you fall?…

HOW TO SAVE INCOME TAX ON SALARY IN 2020?

When it comes to paying tax, everyone looks around for the ways through which they can get some tax benefits. Tax Evasion is a crime but to save tax via some legal ways is just a top-notch solution for all your queries. To get you out of this trouble Taxofile…

DEEMED DIVIDEND U/S 2(22)

Deemed Dividend is the dividend which is not actually paid as a dividend but assumed to be dividend for the purpose of taxation under Income Tax Law.…

TDS On Purchase Of Property From Non-Residents

As per the provisions of the Income Tax Act, 1961 (“the Act), TDS is to be deducted from the payments to be made by the resident to non-resident towards purchase of property from Non-Resident. Hence it is very important to understand the provision, the applicable withholding tax rate and other…