A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, it can either re-invest it in the business (called retained earnings), or it can distribute it Read more [...]

Employee Provident Fund EPF is an employee benefit scheme generally prescribed by a statutory body of the government which provides facilities to the employees of an organization with regard to medical assistance, retirement, education of children, insurance Read more [...]

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application. PAN enables Read more [...]

At the end of every financial year, many tax payers frantically make investments to minimize taxes, without adequate knowledge of the various available options. The Income Tax Act offers many more incentives and allowances, apart from the popular 80C, Read more [...]

Income Tax: • Provision of Advance Tax Ruling applicable to Residents. • Scope of Income Tax Settlement Commission widens. • Basic limit of Exemption increased to 2.50 lac. In case of Senior Citizen, it is increased to 3.00 lac. • Read more [...]

Many people are not aware about that their tax refund status. The Refund status can be easily ascertained online with a few simple and easy steps. The ‘Refund Banker Scheme', which was first introduced by the Income Tax Department in Jan 2007, can Read more [...]

The law of the land is that when we earn income, we need to pay a portion of that as tax towards government treasury. How that portion is arrived at is a mystery uncovered in close to 300 sections of the Income Tax Act, over 100 Income Tax Rules,  further Read more [...]