What is Direct Tax? In India, taxes are levied by the Government through Direct & Indirect Taxes. Both are extremely important in the growth of the Indian economy. Direct taxes, in simple terms, is the tax that is levied directly...

What is a Direct Tax? In India, taxes are levied by the Government through Direct & Indirect Taxes. Both are extremely important in the growth of the Indian economy. Direct taxes, in simple terms, is the tax that is levied...

What is a tax information network TIN? With the advancement of technology, the income tax department has been constantly working on leveraging the technology in order to provide smooth services to the taxpayers. Keeping this in mind, the department launched...

The Income Tax Department has launched its new e-filing website on the 7th of June, 2021. This new portal will soon replace the existing portal www.incometaxindiaefiling.gov.in. The new portal is user-friendly and focuses on making the entire e-filing experience easy,...

The Income Tax Department has launched its new e-filing website on the 7th of June, 2021. This new portal will soon replace the existing portal www.incometaxindiaefiling.gov.in. With the main focus on a user-friendly e-filing experience for the taxpayers, the new...

What is an income tax audit under section 44AB? In India, various laws govern different types of audits like statutory audit, stock audit, cost audit. The core purpose of these audits is to ensure that the books of accounts are...

What is TCS Tax? TCS is the tax that is collected by the seller from the buyer. The goods are specified under section 206C of the Income Tax Act, 1961.  Let us take an example- Mr. Arun buys 10 kgs...

What is Self Assessment Tax? It is a well-known fact that every person has to pay tax on their income. There are various ways in which tax is collected by the government by way of advance tax, tax deducted at...