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…
