Income Tax

Residential Status of Individuals, Firms, Companies

How New Taxation System of GST Works

Residential Status of Individuals, Firms, Companies As per Income Tax Act What is Residential Status? The residential status of a person/ entity is what determines the scope of taxation on that person/ entity in India, as per out Income Tax Act. The determination of residential status is based upon certain …

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Section 269SU of Income Tax Act 1961

Disadvantges of Sole Proprietorship in India

Section 269SU of Income Tax Act 1961 Section 269SU of Income Tax Act, 1961 – Applicability for B2B businesses, The Finance Act, 2019 inserted section 269SU (Acceptance of payment through prescribed electronic modes) with effect from 1st November 2019. The section provides that every person carrying on business shall (mandatorily) …

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How Does Income Tax Return Filing Online Works in India?

Income-Tax-Return-Filing-India

How Does Income Tax Return Filing Online Works in India?   The tax imposed on the income of individuals, corporations, businesses, or other legal entities is officially named as Income Tax. There is no fixed tax rate for all ranges of incomes, it differs depending on different sectors and sections, …

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