Frequently asked questions

General FAQ

Yes, they are taxable @ of 30% without any basic exemption limit. TDS will also be deducted by payer.

Yes, it can be claimed as per the provisions of double taxation avoidance agreement or as per S. 91 of the act.

After filing of ITR, if AO is of the opinion that income is understated, he will take measures to compute the accurate income. So, the demand raised as tax due is tax on regular assessment.

Head of payment, amount & mode of payment, type of payment, assessment year & PAN.

All the revenue receipts are taxable unless expressly exempt. However, capital receipts are non-taxable unless specifically made taxable.

Incomes which are chargeable to tax are taxable incomes whereas the incomes for which law provides exemption from payment of tax is exempt incomes means no tax is leviable on exempt incomes.

Capital income is in the nature of income in lieu of Source of income like sale of residential building, lump sum compensation in lieu of termination of services etc. while revenue receipts are of recurring nature like salary, interest income etc.

Yes, income from every source even if it is exempt must be shown in ITR.

No, there is no need to enclose them at the time of filing ITR but the same are required before AO.

Yes, taxpayer can take the help of professionals like CAs & any agency.

Questions? Visit the Support Center, or get in touch:


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