by Sinewave Team | Aug 10, 2024 | Taxation
Out of certain specific exempt incomes given under Income Tax Act, 1961, Agricultural Income is one of the most important one. As per Section 10(1) of the Income Tax Act, agricultural income is exempt from income tax and is not included in the total income while...
by Sinewave Team | Aug 9, 2024 | Taxation
Assets creation is considered as one of the important achievements for any person. Once you have created an asset, its value appreciation or depreciation depends on the factors related to it. At the time of selling or disposing off such asset, one may have to bear...
by Sinewave Team | Aug 8, 2024 | Taxation
The word “refund” catches the attention of almost every other taxpayer like no other word can. A refund is the excess amount of taxes paid than what was the actual tax liability. However, receiving this refund is not an easy task as it sounds. The perfection in filing...
by Sinewave Team | Aug 7, 2024 | Taxation
The Senior Citizen Savings Scheme (SCSS) is a government-backed savings scheme in India designed specifically for senior citizens. It provides monthly and periodically assured and regular income to senior citizens. Age considered for eligibility under this scheme is...
by Sinewave Team | Aug 6, 2024 | Taxation
A royalty refers to a payment made by one party (the licensee or user) to another (the licensor or owner) for the use of certain rights, typically related to intellectual property. These rights could include patents, copyrights, trademarks, franchises, or the rights...
by Sinewave Team | Aug 5, 2024 | Taxation
Income tax act has recently introduced Section 148A in the Budget 2021. This section empowers the Assessing Officer to issue a notice if they decide to initiate reassessment. The need to introduce this section arises because it is possible that a taxpayer may have...
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