Tax Articles

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 Tax Year? The 2022 tax year is the assessment year 2022-23 and previous year 2021-2022 in India. A financial year (FY) is the period between 1st April to 31st March, the year in which a taxpayer earns his...

How to save tax or rather how to plan your investment is a question that bothers each one of us. While tax planning is crucial, tax saving schemes are also essential. You can save tax and earn returns with the...

The tax rebate u/s 87A allows a taxpayer to reduce his/her tax liability marginally depending on the net total income. In this article, we will cover the eligibility, steps to claim, points to keep in mind while claiming the rebate....

Recurring deposits or RDs are similar to FDs; however, they are more flexible than FDs. Investors can invest a certain amount every month into their RD account from their savings bank account. Investors will receive guaranteed interest from banks which...

Tax liability is the debt every individual, corporate, institution owes to the Central Government of India. The taxability, rate, type of tax depends on the type of income and the statutory body regulating such taxation. The taxes collected from the...

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...

Taxation is an important source of revenue for any government. This helps in the economic growth of a country along with infrastructure development in a country. The constitution of India gives the authority to the government of India to collect...