Tax Articles

Difference between Tax Exemption, Tax Deduction and Tax Rebate Tax is the biggest worry for most of us. Like me, there are many who do not understand the process and are worried about how to get through this during this...

What is Tax Evasion? Any action intended to conceal, understate, or fraudulently disclose income to lower your income tax liability is considered tax evasion. Tax evasion includes failure in paying taxes on time or paying less than the actual tax...

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...

Many times we come across allowances such as transport, conveyance, uniform allowance, etc. These are special allowances that an employer offers to its employees regularly. These allowances have specific requirements and conditions for taxability. In this article we have covered...

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...