Tax Articles

What is Tax Avoidance? Tax avoidance refers to the use of legal means to avoid paying tax. This is majorly dependent on the tax laws of a specific country and the various provisions of the taxation laws in that country....

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...

Superannuation is a retirement benefit and potentially a good way for an employee to plan their financial security. Employers also offer other retirement savings schemes such as provident funds, gratuity, or National Pension System (NPS). Here we will help you...

What is the Standard Deduction in Income Tax? The standard deduction is beneficial for both the employers and salaried employees. For the employers, it would result in less administrative efforts in the processing of transport and medical bills. For the...

Budget 2023 Updates- An income from market linked debentures are taxable as short term capital gains at applicable rates. What is Short Term Capital Gain Tax? A capital gain arising from the sale of a short term capital asset is...

What is Short Term Capital Gain on Shares? A capital gain arising from the sale of a short term capital asset is a short term capital gain. The applicable tax on STCG is different for different assets. In the case...

Security Transaction Tax (STT) is a result of multiple tax evasions of capital gains tax. It was introduced to curb fraudulent transactions of tax evasion. The Government has announced STT in 2004 and was applicable from October 1st, 2004. Also,...

Section 80U of the Income Tax Act, 1961, provides a tax deduction to an individual taxpayer who is himself/ herself suffering from a disability. However, the taxpayer must obtain a certificate as prescribed in the Income Tax Act, 1961. In...