Capital gains on sale of house is to be paid by the house property owners in India. This so because the sale of house results in profits to the owner. …
All You Need To Know About Capital Gains On Sale Of House Read More »
TDS under Section 194H is to be deducted by any person on payment of commission or brokerage to a resident person. When is Section 194H applicable? As stated above, section …
Under Section 194C, a person making payment to a resident contractor or subcontractor for carrying out any work is required to deduct TDS. Who has to deduct TDS? TDS is …
Any income received in India including income from YouTube and other sources, is subject to Income Tax in India. This income tax is charged if the income earned by the …
The due dates for filing of audit report and Income Tax Return for certain category of taxpayers has been extended by CBDT for FY 2020-2021. The same was announced by …
ITR Filing & Income Tax Audit due dates extended (FY 2020-21) Read More »
Oh no! You missed the deadline of filing Income Tax Return by 31st December, 2021 and now you are worried as to what to do next? Don’t worry, even if …
Can I file Income Tax Return after 31st December 2021? Read More »
It is a settled law that the tax is calculated on the income earned during a relevant financial year. If the assessee has received any portion of salary ‘in arrears …
Cases in which Tax relief can be obtained under Section 89(1) Read More »
As per the Income Tax Act, the ITR (Income Tax Return) must be verified within 120 days of filing through submitting ITR-V. In this blog, we will tell what happens …
What happens if ITR is not verified within 120 days? Read More »
What is SIP? Systematic Investment Plan, most popularly known as SIP is an investment plan that allows you to invest small sum in your preferred mutual fund in a disciplined …
As per the Income Tax laws of India, anything received by person in monetary terms is treated as an income of that person. The income of source could be salary, …
Best ways to save taxes (other than Section 80C) Read More »