income tax department

How the income tax department is tracking your income!

Disclaimer: Tax evasion is high in our country, and so is red-tapism. This article is an advisory on how genuine taxpayers can avoid the red-tapism and in no manner, intends to promote tax avoidance, since paying taxes genuinely, is the first…
Royality 2

Amount paid for use of software is not ‘Royalty’.

“During the assessment year 1997-98 and 1998-99, several payments were made to foreign parties for the license to use the software. However, no tax has been deducted at source and thus, following section 40(a) these expenses must be disallowed.…
Your right to privacy is their highest selling product

Your right to privacy is their highest selling product

Facebook wants to bring people together. Google wants to make search more friendly. Amazon wants to make available everything at your doorstep. Jio wants everything available under one platform. Newsrooms want to ensure all the best news reach…
Pinky Promise

Accountability – How Governments make and break pinky promises, while you pay interest and penalties!

Memory is important – whether it’s your laptop, mobile or yourself, especially the last one, because you can easily buy and upgrade the other two. Voters have a fickle memory and governments benefit the most from it. Old memories get erased…
Hindu Undivided Family

Hindu Undivided Family – A uniquely Indian concept and tax savings

India is diverse and unique in many ways. Many of the economic theories and business models fail to hold in India owing to the unique nature of the economy, the country and the citizens. India is deeply influenced by and believes in its traditions…
Article 10

Budget 2021 – New Income Tax Slabs for 2022

Individuals and HUF (Option A) and AOP, BOI, AJP On the above tax, surcharge is applicable at following rates, based on total income: (flat rates)Up to 50 lakh – Nil, 50 lakh to 1 crore – 10%, above 1 crore – 15% Individuals and HUF…