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Explanation of Advance Tax

Advance Tax Overview: Advance tax is a system of staggered payment of income tax liabilities by taxpayers over the course of the financial year,...

Details of Donations Entitled for Deduction under Section 80G

Section 80G of the Income Tax Act allows taxpayers to claim deductions for donations made to specified funds and charitable institutions. To illustrate the...

Deductions under Section 80C to 80U

Deductions under Section 80C to 80U of the Income Tax Act play a crucial role in reducing the taxable income for individuals. Let's explore...

Concept of Depreciation and Accumulated Depreciation?

Depreciation: CA Devesh Thakur Definition: Depreciation is the systematic allocation of the cost of a tangible asset over its useful life. It represents the decrease in...

Capital Gain on Sale of Depreciable Assets

Definition: CA Devesh Thakur Capital gains arise when a depreciable asset is sold at a price higher than its written down value. Depreciable assets include tangible...

Popular articles

Deductions available to individuals under the Old Tax Regime

SectionDeductionMaximum LimitApplicabilitySection 80CInvestments in PPF, EPF, LIC, NSC, ELSS,...

Rules of Debit and Credit: Traditional Approach vs Modern Approach

In accounting, the rules of debit and credit are...

Types of TDS Forms and Their Purpose

S. No.Form No.Detailed DescriptionDue Dates1Form 26QThis form is used...

India’s New Income-Tax Bill 2025: A Game-Changer for Taxpayers?

The Income-Tax Bill, 2025, as introduced in the Lok...

Understanding Global Payment Systems

1. UPI (Unified Payments Interface) – India UPI is one...

Case Studies

TDS (Tax Deducted at Source)
Financial Management

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