Income Tax Surcharge Rate & Marginal ...
Are you in one of the higher income tax brackets, such as the 30 percent top rate? – If you responded yes, your Income Tax liability will be subjec...January 16, 2022 | Parmeet Chhabra
Types of Assessment Under Income Tax Act
To provide the complete details of income for the relevant financial year, all assessee must file income tax returns with the Income Tax Department...January 07, 2022 | Parmeet Chhabra
Section 16- Standard Deduction, Enter...
Section 16 of Income Tax Act, 1961 Section 16 of the Income Tax Act of 1961 allows for a deduction from taxable income under the heading of "salar...December 22, 2021 | Parmeet Chhabra
Vivad se Vishwas – Filing of DTVSV Form
The Direct Tax Vivad se Vishwas (DTVSV) Scheme was announced during the Union Budget of 2020 to allow for dispute resolution in outstanding income ...December 21, 2021 | Parmeet Chhabra
Filing Form 10E is Mandatory to Claim...
Form 10E is a form that must be filed by taxpayers to claim relief under section 89(1) of the Income Tax Act. Form 10E helps in calculating tax out...December 20, 2021 | Parmeet Chhabra
Tax Planning Under Minimum Alternate ...
MAT stands for Minimum Alternate Tax, and it was created to close (if not completely close) the gap between tax liability and book profits. Let's l...December 19, 2021 | Parmeet Chhabra