The employers issue Form 16 TDS certificate to their employees. It is proof of tax deduction at source from the employee’s salary. Further, the genesis of this Form can be …
All You Need To Know About Form 16: TDS Certificate For Salary Read More »
Salaried individuals residing in rented house are entitled to tax exemption on House Rent Allowance (HRA) under Section 10(13A) of the Income Tax Act, 1961. But are you aware of the fact that you, as a salaried individual you can take advantage of this exemption while staying at your parents’ home.
Presumptive Taxation Scheme or PTS is a scheme wherein there is no requirement to maintain books of accounts. Further, in order to avail this scheme, the taxpayer must have a …
We have a perception that the best ways to save taxes in India are just under Section 80C. However, that is not the case. There are various other ways to …
Section 80C and its allied sections allow a maximum deduction of up to Rs. 1.5 lacs every year from the taxpayer’s total income and an additional deduction amount of Rs. 50,000 can be claimed under Section 80CCD(1b).
TDS & TCS both are direct taxes that are taxed on the income which the person earns. Having stating that, both being the direct taxes often create confusions in the …
TDS deduction from income does not mean that TDS compliances have come to an end for a person. The persons are required to comply with compliances related to tax deduction …
Comprehensive Guide on Consequences of non TDS Deduction Compliances Read More »
The due date of filing of Income Tax Return is almost around the corner. If you are the one who has not filed the Income Tax Return for the current …
Avoiding Mistakes & Errors while filing Income Tax Return Read More »
One has to face income tax penalties and late fees if he does not comply with the laws, rules as well as regulations under the Income Tax Act. Having said …
How to avoid income tax penalties and late fees? Read More »
Generally, Income Tax Return is to be filed by the individuals, if their income exceeds the threshold limit of Rs. 2.5 lacs, set up by the Ministry of Finance, Government …
Know Reasons Why You Should File Your Income Tax Return Read More »