31st March, 2022 is around the corner. The taxpayers must make sure that they complete the following 10 income tax tasks before the deadline of 31st March ends. 1. Filing …
Income Tax Related Tasks to finish before 31st March, 2022 Read More »
Form 15G and Form 15H are self declaration forms that the assessee submits to the bank requesting not to deduct TDS on Interest Income, as their income is below the basis exemption limit. The assessee has to provide his PAN Card with the form.
Exemptions & deductions provided under the Income Tax Act helps in reducing the tax liability of persons during each financial year. A lot many of the individuals find the current …
Major Exemptions & Deductions Availed by Taxpayers in India Read More »
In order to provide relief and lessen the burden on small taxpayers, the Governmeny had announced the tax rebate scheme by introducing Section 87A in the Income Tax Act.
Annual Information Statement or AIS is rolled out by the Income Tax Department on the new Income Tax Portal. It is an enhanced version of Form 26AS. Further, it aims …
Important facts about Annual Information Statement Read More »
TDS on professional fees or technical services is to be deducted by the person making payment for such services. The same has been provided under Section 194J of the Income …
All About TDS on Professional or Technical Fees (Section 194J) Read More »
As per the provisions of the Income Tax Act, the tax on prize money is levied on its winner. Further, the prizes earned by the person are shown under the …
Do you know about the Tax on Prize Money in India? Read More »
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 …
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 »
The term Intraday Trading means that the buying and selling of the stocks are done on the same day. While buying stock, the person has to specifically mention ‘intraday’ on the portal through which he is buying stocks. Through this trading, the traders earn money by buying or selling stocks and derivatives on the same day from price fluctuations at given point of time. The profits earned on this intraday trading of stocks are speculative gains and loss as speculative loss.