Foreign remittance under LRS to attract 20% TCS from July 1, 2023
The budget 2023 has hiked the TCS rate on foreign remittance under LRS to 20% from 5%, other than for education and medical purposes.
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Amish Maknojia
- Mar 7
Income Tax Rate for AY 2023-24, Last Date of Filing ITR and Penalty for Non-Filing of ITR
Know everything about Income Tax Rate, Penalty for non-filing of Income Tax Return (ITR) for AY 2023-24
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Amish Maknojia
- Feb 5
Key Changes in Taxation: Budget 2023
The highest tax rate which in our country is 42.74 per cent. This is among the highest in the world. I propose to reduce the highest...
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Amish Maknojia
- Feb 2
Maximizing Your Tax Savings with Accounting
Unlock the full potential of accounting in the taxation process with us. Read more.
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Amish Maknojia
- May 9, 2022
These 5 new Income Tax rules are applicable from 01st April 2022
5 IMPORTANT INCOME TAX RULES THAT ARE APPLICABLE FROM 01ST APRIL 2022.
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Amish Maknojia
- Aug 5, 2021
Interest on non-payment of advance tax under section 234B of Income Tax Act
Section 234B of the Income Tax Act contains interest provisions, which are discussed in this article. Section 234B, in particular,...
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Amish Maknojia
- Jun 25, 2021
Tax Treatment for dividend received from domestic Company (with effect from FY 2020-21)
Finance Act 2020 has abolished the Dividend Distribution Tax, and tax on dividends is now to be paid by the investor. Thus, domestic compani
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Amish Maknojia
- Feb 8, 2021
Advance Tax Applicability and Calculation of Advance Tax under section 208
In India, a taxpayer is required to pay advance tax on fulfilling certain criteria as provided under section 208 of the Income Tax Act....
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Amish Maknojia
- Feb 3, 2021
New Income Tax Slab Rate for Individual/HUF for AY 2021-22 (FY 2020-21)
Every year with Finance Budget, all taxpayers are keen to know about how much tax they'll need to pay, and how much tax they can save....
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Amish Maknojia
- Aug 5, 2020
Know about Tax on Sale of Gold or Jewelry including inherited Gold/Jewelry
In India, investment in gold and jewelry is a very common type of investment. And it's very common in India to sell and purchase gold and...
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Amish Maknojia
- Jul 6, 2020
TDS on Cash withdrawal - Section 194N
Know about who is required to deduct TDS on Cash Withdrawal under section 194N of income tax?
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Amish Maknojia
- Jul 4, 2020
Tax Treatment and Applicability of Audit for Intraday Trading in India
Today in this article we have tried to simplify perplexity of tax treatment, Tax Audit Applicability on Intraday Trading and so on
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Amish Maknojia
- Jun 16, 2020
Tax on Agricultural Income in India
Having Agricultural Income? You must read this to know about its Tax treatment
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Amish Maknojia
- Mar 18, 2020
Alternate Minimum Tax (AMT) - Section 115JC of Income Tax
Alternate Minimum Tax is introduced for Non-Corporate Assessee who claims the certain specified deduction to charge minimum alternate tax .
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Amish Maknojia
- Jan 3, 2020
Section 194M - TDS on payment to resident for certain services
Making payment to Indians for their service? You might need to deduct TDS under this provision of Income Tax Act. Learn about Section 194M.
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Amish Maknojia
- May 14, 2019
Tax Benefit for Interest on Home Loan under Income Tax: Section 24
Home loan is very usual form of financing ones dream home. Buying own home was never an easy task until home loan came in to light....
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Amish Maknojia
- Mar 8, 2019
Deduction for Mediclaim and Preventive Health Checkup Under Income Tax (80D)
Deduction under 80D for FY 2018-19 (AY 2019-20) Health is Wealth proverb gains prominent relevance in today's era. Now, being habits and...
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Amish Maknojia
- Jan 29, 2019
How to Save Capital Gain on Sale of Residential Property?
Capital Gain on Sale of Residential Property (Section 54) In India income is chargeable under the head Capital Gains when there is an...
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Amish Maknojia
- Jan 29, 2019
Deductions for Donation under Section 80G of the Income Tax
All you need to Know about Tax Treatment of Donations Donation is part and parcel of every fortunate human being to share there fortune...
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Amish Maknojia
- Jan 29, 2019
All you need to know about: House Rent Allowance and 80GG
All salaried people who live in a Rented house can claim House Rent Allowance for tax benefit. When any salaried person receiving HRA...
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