Income Tax

Tax on Dividend Income

Is there any Income tax on dividend income in India? Do I have to pay tax on dividend income? what is tax rate for dividend income? How much is the surcharge on dividend income? All are answered here. Dividend is the part of profits or accumulated profits of the company …

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Linking of Aadhar to PAN

This is a hot subject which requires your attention, please! Section 139AA of the Income Tax Act makes it mandatory for every individual who has a PAN to link it with the Aadhar number. Every rule has certain exceptions. As per the Notification issued by CBDT in 2017, the provisions …

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Union Budget 2021 : Part IV –Business related

Income Tax amendments related to Business are discussed here. I have covered 8 general points. The points specifically applicable to certain industries are not written here. Point # 1 Payment by an employer of employee contribution to a fund on or before the due date Example – MK Steels Private …

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Union Budget 2021 : Part II – Personal Income Tax Changes

I have covered 6 points under Income Tax proposals which will impact the salaried employees and other individual taxpayers. Point # 1 Relaxation for a certain category of senior citizens from filing return of income-tax It would have been a sincere Pranam to Senior citizens had the Government proposed that …

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Gold(en) Tax

Governments lie; bankers lie; even auditors sometimes lie. Gold tells the truth. Borrowers will default. Markets will collapse. Gold prices (the ultimate form of safe money) will skyrocket. I suppose this is why people buy Gold. Of late, many of you would have noticed that Financial Advisors have developed a …

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Honoring the Honest by Income Tax Department

Those who have filed their Income Tax Return for AY 2020-21 would have got a mail from the IT Department with the above image mentioning “Honoring the Honest-Use/Share the Proud Filer Badge” Hope you remember, a few months back, the Central Government launched a Scheme called Honoring the Honest. The …

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TDS on cash withdrawal from the Bank

“A chain is only as strong as its weakest link” – Someone must have reminded the Government of this proverb and from thereon, the Government has relentlessly engaged in linking business’. They don’t want to leave any weak links in any financial transactions. They have done straight links, cross links …

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