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Tuesday, February 27, 2024
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Income Tax

Retrospective Tax in India Explained

The retrospective amendment is the legal process of amending a law so that it applies to events that took place before the amendment was...

Step-by-step Guide to Check Income Tax Notice Online

The Income Tax Department in India is responsible for issuing notices to taxpayers for a variety of reasons. These can include notices for filing...

Tax Residency Certificate (TRC), Features, Importance, Types

Most Indian professionals live in India, work in India and earn in India. Thus they pay income tax to the Government of India through...

What is Schedule 112A? Reporting Capital Gains From Listed Shares

Schedule 112A of the Income Tax Act requires individuals to report any capital gains from the sale of listed equity shares or units on...

A Brief of the 111A of the Income Tax Act – Meaning and Instances

In India, the Income-tax Act, 1961 (hereinafter referred to as "the Act") is the charging statute for the income tax levy. Section 111A of...

Who are the Specified Employees? Are They Taxed Differently?

The Income-tax Act, 1961 (‘the Act’) provides for the taxability of income of specified employees in India. The term ‘specified employee is defined in...

Demonetisation in India – Significance and Effects

The Currency Note Demonetization was a policy implemented by the government of India on 8th November 2016. The policy entailed the withdrawal of all...

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