FAQS on Form 35 under Income Tax act What is Form 35?If you are aggrieved by an order of an Assessing Officer (AO), you can file an appeal against the same before…
Category: Foreign Tax Credit (FTC)
FAQS on Form 35 Appeal to Income Tax Department before CIT(A)
FAQS on Form 35 under Income Tax act What is Form 35? If you are aggrieved by an order of an Assessing Officer (AO), you can file an appeal against the same…
FAQs on Outstanding Tax Demand Notice u/s 156
Frequently Asked Questions on Outstanding Demand Notice u/s 156 By which mode will I receive the demand notice from the IT department?You will receive an email from the IT department. The department…
FAQ’s On Composition Scheme under GST
Composition Scheme under GST- Question and Answers What is composition scheme ? Composition scheme is specially designed for small taxpayers, to get rid of complex GST framework and compliances. Small registered taxpayers…
Important FAQ’s on TCS Provisions of Section 206C
All About TCS Provisions of Section 206C What is mean by Tax Collected at Source (TCS)? As per section 206 of Income Tax Act, Tax Collected at Source (TCS) is a tax…
Important FAQ’s of TCS on Parking Lot, Toll Plaza or Mining and Quarrying
Section 206C(1C): TCS on Parking Lot, Toll Plaza or Mining and Quarrying What are the Nature of Transction Covered Section 206C(1C) ? Under section 206C(1C),TCS is appliacble if Leasing or licensing or…
Important FAQ’s of TCS on Sale of any Motor Vehicle
Section 206C(1F): TCS on Sale of any Motor Vehicle of the value exceeding Rs.10 Lakh Specify the Provisions of Section 206C(1F) ? Section 206C(1F) has been brought to cover all transactions of…
Important FAQ’s of TCS on Foreign Remittance Through Liberalized Remittance Scheme
Section 206C(1G) :”TCS on Foreign Remittance Through Liberalised Remittance Scheme (LRS) What are the Rates applicable under section 206C(1G) ? What is Liberalised Remittance Scheme (LRS) Scheme of RBI ? Under LRS…
Important FAQ’s of TCS on Sale of Goods
Section- 206C (1H) : TCS on Sale of Goods What is the Section 206C(1H) ? As per section Section 206C (1H), each seller who has received any amount in the form of…
TOP 20 FAQ’s on Leave Travel Allowance [ Latest ]
TOP 20 FAQ’s on Leave Travel Allowance (LTA) What is Leave Travel Allowance (LTA)? LTA (Leave Travel Allowance) is allowed by emplyer to employee for employees would take leave, enjoy their travel…
Important FAQ’s On Foreign Tax Credit (FTC)
E-Advance Ruling Scheme – 2022 Submission of additional facts before the Board for Advance Rulings The Board for Advance Rulings may at its discretion permit or require the applicant to submit such…
FAQ’s on Presumptive Taxation Scheme Eligibility and Computation
FAQ’s Presumptive Taxation Scheme Eligibility, Benefits, and Computation What is presumptive taxation scheme?The government has introduced the presumptive taxation scheme to give relief to the small taxpayers from hectic job of maintaining…
Important FAQ’s On Foreign Tax Credit (FTC)
Important FAQ’s On Foreign Tax Credit What is Foreign Tax Credit (FTC)? Foreign Tax Credit is tax paid in foreign country on income derived in foreign country by on assessee. It can…
Rule 115 Of Income Tax– Income Received in Foreign Currency
Rate Of Exchange For Conversion Into Rupees Of Income Earn In Foreign Currency: The rate of exchange for the calculation of the value in rupees of any income in foreign currency shall…
