The income tax department in India introduced the alternative minimum tax (AMT) for taxpayers that are not companies while the minimum alternate tax (MAT) is meant for companies. The government ensured that taxpayers that are … READ FULL STORY
Income tax laws in India treat taxpayers differently based on their residency status. Laws are different for non-resident Indians (NRIs) and resident Indians. The income tax also specifies what will be the implication in … READ FULL STORY
Many people are under the misconception that income generated by freelancing activities are not taxable. Similarly, plenty of individuals are unaware that professionals, consultants, and freelancers can pay income tax on half of their … READ FULL STORY
Income tax is calculated for salaried individuals based on different tax slabs. Salary refers to the remuneration an employee receives from a company for the work done during a specified period. It is essential … READ FULL STORY
Scheduled tribes (ST) are exempt from paying income tax under Section 10 (26) of Income Tax (I-T) Act 1961. Section 10 (26) provides an exemption from income tax for members of scheduled tribes, as … READ FULL STORY
Under the income tax act rules, a taxpayer is a person or a corporation that pays taxes on its income each year. Your income only becomes lawful after you file income tax filings and … READ FULL STORY
July 17, 2023: Union finance minister Nirmala Sitharaman has said that the government has provided several tax benefits to middle-class people, including income tax exemption for those earning up to Rs 7.27 lakh per … READ FULL STORY
Form 10E is a tax form used in India used to claim relief under Section 89(1) of the Income Tax Act, 1961. This form is used to claim relief for arrears of salary, wages, … READ FULL STORY
Taxpayers must ensure that they file their income tax returns (ITR) before the deadline, which will enable them to get a tax refund if they have paid excess tax. The tax refund is deposited … READ FULL STORY
The Mumbai Metropolitan Region Development Authority (MMRDA) has approved the master plan for fast travel in Kalyan-Dombivli area. This wasdecided in a review meeting attended by Kalyan MP Shrikant Shinde, other public representatives and … READ FULL STORY
July 10, 2023: The National Capital Region Transport Corporation (NCRTC) has set up 585 Kilowatt peak (kWp) capacity solar power plant at the Delhi-Meerut RRTS Depot in Duhai. The solar power plant will have … READ FULL STORY
Chennai Metro, the fourth longest metro system in India, stands as a crucial rapid transit system for the city, often referred to as the Gateway of South India. The Wimco Nagar metro station is … READ FULL STORY
The Anand Vihar Metro Station, where the Blue Line and Pink Line of the Delhi Metro converge, is a crucial interchange hub in East Delhi. Located in the Anand Vihar neighbourhood near the Delhi-Uttar … READ FULL STORY
