by Audit Analyst | Jan 3, 2026 | Income Tax
Nature of Freelancing Income Freelancing income is treated as professional or business income under the Income Tax Act. It is classified under the head “Profits and Gains of Business or Profession.” Freelancers may offer services in fields like writing, designing,...
by Audit Analyst | Jan 3, 2026 | Income Tax
Separate Tax Entity A Hindu Undivided Family (HUF) is treated as a distinct taxpayer under the Income Tax Act. It allows a Hindu family to file a separate income tax return in the name of the HUF. The HUF gets an independent PAN and enjoys its own exemption and...
by Audit Analyst | Jan 3, 2026 | Income Tax
Meaning of HUF for Tax Purposes A Hindu Undivided Family (HUF) is a separate legal entity for income tax purposes. It consists of individuals who are lineally descended from a common ancestor, including their wives and unmarried daughters. An HUF is recognized as a...
by Audit Analyst | Jan 3, 2026 | Income Tax
Taxability of Dividend Income Dividend income received by shareholders from Indian companies is taxable in the hands of the investor. It is classified under the head “Income from Other Sources”. The entire dividend amount is added to the total income of the taxpayer....
by Audit Analyst | Jan 3, 2026 | Income Tax
Meaning of DTAA DTAA stands for Double Taxation Avoidance Agreement, a treaty between two or more countries. Its purpose is to prevent the same income from being taxed twice in both countries. It applies to individuals and entities who earn income in a country other...
