Income Tax Authorities in India: Roles, Powers, and Legal Backing In India, Income Tax Authorities are empowered officials under the Income Tax Act, 1961, responsible […]
Author: Durga Medida
40. Reverse Charge Under GST
Understanding Reverse Charge Mechanism (RCM) under GST: A Simple Guide The Reverse Charge Mechanism (RCM) under the Goods and Services Tax (GST) in India flips […]
39. Defective Return U/s 139(9)
Defective Return under Section 139(9) of the Income Tax Act, 1961 – Explained Filing your income tax return (ITR) correctly is crucial to avoid unnecessary […]
38. Indirect Tax
Indirect tax refers to a type of tax that is not directly paid by an individual to the government but is instead levied on goods […]
37. Vat dealer
A VAT dealer refers to a person or business entity that is registered under the Value Added Tax (VAT) system and is authorized to collect […]
36. Entertainment Allowance
Entertainment Allowance is a specific benefit granted to employees, generally to cover expenses incurred while entertaining clients or customers on behalf of the organization. Under […]
35. Characteristics of salary
Salary is a form of periodic compensation paid by an employer to an employee for services rendered under a contract of employment. In India, salary […]
34. Assessce
Assessment under Indian Tax Laws refers to the process by which the Income Tax Department determines the correct amount of tax payable by an individual […]
33. Income Tax.
Income tax in India is a direct tax levied by the central government on the income earned by individuals, Hindu Undivided Families (HUFs), companies, firms, […]
32. An Association of persons and A Body of individual Person under thePersons chargeable to/ Types of Persons under Income Tax Act
Under the Indian Income Tax Act, Association of Persons (AOP) and Body of Individuals (BOI) are important classifications of taxpayers. These terms are used to […]