Tax Articles

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Transport Allowance for Salaried Individuals

While going through your pay slip or offer letter you must notice the allocation of transport allowance. Like other allowances, transport allowance is also a part of your CTC and fixed pay. In recent years, the taxability and tax exemption...

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Corporate Tax in India

Corporate Tax in India is applicable to a company. It is a subset of direct taxes in India. In this article, we have covered corporate tax, India in-detail, its applicability, tax payment, applicable tax rate, and filing of ITR. What...

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Section 206CC

Similar to TDS, many transactions require Tax Collected at Source (TCS) at the prescribed rate against the type of goods sold. The Income Tax Department mandates every taxpayer to furnish their PAN to the collector of TCS. This is simply...

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Superannuation

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...

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Section 206CCA of Income Tax Act

The Finance Bill 2021 introduced section 206CCA for a higher deduction of tax collected at source TCS. Similar to higher deduction of TDS, the Income Tax Department introduced section 206CCA for a higher deduction of TCS. What is Section 206CCA?...

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Income From Salary

For a salaried employee, the income from salary and its tax treatment is of utmost importance. This is because a mere misplanning can lead to either a higher deduction of TDS or higher tax liability. For this purpose, you must...

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Income Tax For Senior Citizens

The Income Tax Act levies income tax on every type of individual taxpayer being a regular taxpayer or a senior and super senior citizen. However, it also provides many benefits to senior citizens of our country. The intent is to...

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Section 206AB of Income Tax Act

The Finance Bill 2021 introduced section 206AB for a higher deduction of TDS. Before the Finance Bill, 2021 a higher deduction of TDS was covered in section 206AA for not furnishing PAN to the deductor of TDS. With the introduction...