Introduction:Form 3CD is a statement of particulars required to be furnished under section 44AB of the Income Tax Act, 1961. It is essentially an audit report that is required to be filed by certain persons carrying on business or profession.…
Today you need to file your income tax returns attentively and on time if you are a citizen of India with a source of income. The consequences of failing to file your taxes might be severe. Your income will be…
The fast growing global industry today is in the constant need of a software which can keep a track of the continuous changing laws and statutes which governs it. It is always beneficial to have a strong software working at…
1. Any person, being an individual or a Hindu Undivided Family, responsible for paying to a resident any income by way of rent exceeding 50,000 for a month or part of a month during the previous year, shall deduct an amount equal…
1.Deductor- Any person, [other than individual or HUF (not liable to tax audit in the preceding Financial year)]2. Deductee- Any Resident3. Time of Deduction- At the time of credit or payment, whichever is earlier.4. Rate of TDS- -For use of…
1.Deductor- Any Purchaser (Other than person referred to in section 194LA) 2. Deductee- Any seller being resident 3. Time of deduction- At the time of credit or payment, whichever is earlier 4. Rate of TDS- 1% of the total considerations for transfer of immovable…
1. Any person, being an individual or a Hindu Undivided Family, responsible for paying any sum to a resident, for carrying out any work under any contract or by way of fees for professional services rendered during the financial year.…
1. Eligible assessee – Any assesse i.e. Company or non – corporates 2. Quantum of deduction – Deduction @ 15% of the actual cost of the new asset installed. 3. Condition of setting up new undertaking – Assessee should set up an undertaking…
As per the Finance Bill 2020, the following amendments have been made in TDS Section 194J which will take effect from 1 What is TDS Section 194J? Section 194J of the Income Tax Act 1961 contains provisions with respect to…
