Tax Articles

If used efficiently, biodegradable resources can help reduce different types of pollution and bring ecological balance. Section 80JJA of the Income Tax Act provides tax deductions to businesses that have earned gains or profit through efficiently using biodegradable waste. To...

If a professional has worked in an organisation for more than five years now, they might be aware of gratuity. They might Google questions like these: Is gratuity taxable or not? Is gratuity taxable in India? What is tax exemption...

Whenever one talks about income, paying taxes and filing income tax returns are important components.  Income Tax Return or ITR can be filed with the help of a form in which one can disclose their earned income and the resulting...

If someone has failed to file your Income Tax Returns (ITR) or has failed to e-verify before the due date, filing a condonation request can be helpful.  Condonation Request Meaning  In India, the annual deadline for filing ITR is July...

What is the Interest on income tax refund? You might have surely Googled it if your ITR refund is pending for FY 2023-24. Interest on refund of income tax returns applies when your refund of excess tax is pending after...

Every employee receives certain types of leaves throughout the year till they are in a company. Popular types of leaves are sick leaves, casual leaves, ordinary leaves, maternity leaves, earned leaves and others. You can carry forward some of these...

MAT tax, or Minimum Alternate Tax, ensures that enterprises pay a minimum tax amount to the Government of India (GoI). MAT income tax was introduced by the Finance Act 1996.  The current MAT tax provisions were introduced in Finance (No.2)...

Section 269SS of the Income Tax Act is about cash deposits, loan repayment or specific account deposits. It acts like a watchdog for tax evasion using unfair means like cash deposits and concealing deposit information on the face of loan...