Explain about the Key Differences Between Tax Avoidance and Tax Evasion. Tax avoidance refers to the use of legal means to avoid paying tax. Taxpayers use tax evasion techniques to avoid tax burden.
Relief Under Section 90/90a/91 - The double taxation relief would ensure that you do not end up paying taxes twice. Learn more about the relief under section.
A Tax Residency Certificate (TRC) for Indian & non resident is a certificate issued by the Income Tax Department of India. TRC in India can be obtained by submitting Form 10FA to the income tax authorities in India.
Section 45(5A) read along with section 194 IC of the Income Tax Act, 1961. Read more about the complete details on Section 45(5A) of income tax act.
One can claim hra deduction & home loan interest if one owns a house but lives in a rented house. For interest on home loans the tax benefit is available under Section 24(b).
Schedule AL in ITR - Schedule AL enables a taxpayer to disclose assets and the corresponding liabilities in the Income tax return (ITR) filed by the taxpayer.
Treatment of Discount under GST: Discounts that are provided before supply under GST are eligible for deduction from the transaction value provided.
Income Tax Exemption on Gratuity: Eligibility, how to calculate, income tax exemption and other details · Employers not covered under the Payment of Gratuity Act 1972
Section 14A of Income Tax Act - Section 14A deals with expenditure incurred in relation to income not includible in total income. Read more about it.
Deemed Export Under GST - Exports i.e. the goods that are transported out of India are zero-rated under GST. It refers to supplies of goods manufactured in India.