Capital Gains Account Scheme (CGAS): A Detailed Overview
Selling a capital asset results in capital gains. A capital gain is the sum of money you get on the sale of a capital asset. The Capital...
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Asharam Swain
Sep 188 min read
Section 194IB: TDS on Rent Payments Under the Income Tax Act
Section 194IB of the Income Tax Act, 1961, was introduced to broaden the tax base and ensure compliance regarding tax deductions on...
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Nimisha Panda
Sep 138 min read
Group Gratuity Schemes Explained: Comprehensive Insights for Employers and Employees
In the landscape of employee benefits, Group Gratuity Schemes stand out as a significant financial tool for employers in India. These...
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Indrajeet Sharma
Sep 128 min read
Income Certificate and Income Tax Clearance Certificate: A Comprehensive Guide
In the landscape of financial documentation in India, two important certificates play crucial roles in verifying an individual’s...
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Asharam Swain
Sep 127 min read
Obtaining Income Tax Assessment Order: A Detailed Guide
Section 2(24) of the Income Tax Act 1961 defines income, while Section 2(43) defines tax. According to these definitions, income tax is...
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Nimisha Panda
Sep 109 min read
Chapter VI (A) of the Income Tax Act: Know the Deductions Available
Chapter VI (A) income tax deductions allow taxpayers to claim deductions for certain investments, costs, and donations made throughout...
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PRITI SIRDESHMUKH
Sep 1012 min read
What is Cess: A Comprehensive Guide for Taxpayers
A special tax known as a cess is imposed in addition to other taxes already in place. Funds are raised by the central government for...
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PRITI SIRDESHMUKH
Sep 910 min read
Arrear Salary: Understanding Taxability and Relief
Employees may get salary arrears for the current year for any outstanding balances from previous years in a variety of situations to...
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Rashmita Choudhary
Sep 910 min read
Agricultural Land: Treatment of Tax on Sale and Capital Gains
India's economy is based mostly on agriculture, and the country’s agricultural land plays a key role in its growth. The industry employs...
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PRITI SIRDESHMUKH
Sep 68 min read
Additional Depreciation: A Comprehensive Guide for Businesses in India
Additional depreciation is a tax deduction that allows businesses to claim an extra percentage of depreciation on top of the regular...
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