Tax Articles

Form 15CA and 15CB are crucial documents under the Income Tax Act for foreign remittance compliance. 15CA and 15CB act only when the taxpayer has paid to a non-resident or a foreign entity. Form 15CA and Form 15CB focus on...

Form 10IE is filed to choose the new tax regime under the Income Tax Act.  The Union Budget 2020 introduced a new tax regime that offers a lower income tax rate without the old tax regime’s deductions. Taxpayers can choose...

Form 12BA applies to perquisites that an employee receives as a benefit or reimbursement for benefits. These benefits are over and above the Employee's salary. Form 12BA income tax applies to such additional benefits, perks or fringe benefits. Form 12BA...

Cess on income tax is a type of additional tax or levy that the Government of India (GoI) collects to raise funds for a particular purpose. These specific purposes are government welfare schemes, programs or projects. However, not all such...

You might be familiar with the Angel Tax meaning if you run your own business. Or, you might have come across the term ‘Angel Investors’. These investors invest in ‘growth-stage’ start-ups in exchange for equity. Angel investments are essential for...

Section 194Q of the Income Tax Act pertains to transactions with a high volume falling under the ambit of Tax Deduction at Source (TDS). For this 194Q TDS, there is a threshold limit on the purchase value. If any payment...

If you have been a payroll employee in a company, you might know Form 16 or Form 16A. Form 16A will be issued to the taxpayer if they have a Tax deduction at the Source (TDS) component for their remuneration,...

Form 10BB is used by educational institutions, hospitals, medical institutions, and charitable trusts, formed as per the not-for-profit framework or philanthropic/ charitable intentions. Form 10BB of the Income Tax Act can help such institutions stay legal and avail of Section...