Understanding Section 143(1) of the Income Tax Act: A Comprehensive Guide
The Income Tax Act, of 1961 is a vital piece of legislation that governs the taxation of individuals, businesses, and other entities in India....
How to Register a Digital Signature Certificate (DSC) on the Income Tax Portal
The Income Tax Department of India has made it mandatory for certain taxpayers to file their income tax returns electronically using a Digital Signature...
Assessing Income Tax: Understanding the Different Types of Assessments
Introduction
Income tax is one of the most important forms of revenue for any government. In order to ensure that individuals and businesses are paying...
Late Filing of Income Tax Returns in India: Understanding Penalties and FAQs
Filing income tax returns is a legal requirement in many countries, including India, and failing to file your returns on time can result in...
Complete Guide to Verification of Income Tax Return (ITR) in India
Verification of Income Tax returns (ITR) is an important step in the tax filing process. It is necessary to verify your ITR after filing...
Understanding Section 142(1) of Income Tax Act 1961 and its Time Limit
Introduction:
Section 142(1) of the Income Tax Act, 1961 is a crucial provision that outlines the time limit for issuing notices and assessing income tax...
Section 139(3) of the Income Tax Act: Consequences and FAQs of Filing a Belated...
Introduction
Section 139(3) of the Income Tax Act, 1961 deals with the filing of belated income tax returns. It specifies the deadline for filing the...
Section 56 of the Income Tax Act: Understanding Taxation on Gifts and Other Incomes
Understanding Section 56 of the Income Tax Act
The Indian Income Tax Act, 1961 is a comprehensive legislation that outlines the various provisions and rules...
Understanding Section 2(31) of the Income Tax Act: Implications and FAQs
Section 2(31) of the Income Tax Act, 1961 defines the term "person" for the purpose of the Act. The definition is quite broad and...
Understanding Section 44AA of Income Tax Act 1961 for AY 2018-19
Section 44AA of the Income Tax Act, 1961, specifies the requirement of maintaining books of accounts for individuals, Hindu Undivided Families (HUFs), and professionals....