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Search results for: tax deduction

Insurance Industry Requirement in Upcoming Budget 2022-23

Insurance Sector Demands GST Rate Cut, 80C Limit in Budget 2022

The insurance industry is going from a typical time where the life insurance claims increase because of covid-19. The increase in the claims and the attendant payouts which life, as well as medical insurance firms, suffer 30% surge in premiums as reinsurers see towards recovering the losses. But the insurance premiums in India are still […]

2022 TDS Guide on Sale of Property by NRI

Easy Explanation on TDS for Property Sale by NRI (New Guide)

On the capital gains, the NRIs who are selling the house property located in India need to pay tax. It just relied on the short-term or the long-term capital gains on which tax is to be paid. The tax on the long-term capital gain is when the house property is sold post to the duration […]

Every Detail About Salary Slip

All About Salary Slip with Format and Its Important Parts

The Proper Definition of Salary Slip Employee salary slip is a document given by the employer to the employee upon receiving of income every month and has complete details including gross salary to net salary with deductions. All information can be seen in a proper salary format which is prescribed by the government. It shall […]

Best TDS Return Filing Software

Best TDS Software for CAs and Professionals in India

In this article, we have listed the best TDS software in India according to the reviews and ratings by professionals. This software can reduce the tax burden of Indian CAs (Chartered Accountants) and professionals along with error-less preparation of TDS compliance. List of Top TDS Return Software for CA and Professionals As mentioned in the […]

No TDS on Automobile Spare Parts

Raipur ITAT: No TDS Levy on Purchasing Automobile Spare Parts

The Raipur bench of the Income Tax Appellate Tribunal (ITAT) has continued that the stipulations towards the tax deduction at source (TDS) are not suitable for the buying of spare parts. So as to pass the order with respect to the taxpayer the company towards the non-deduction of TDS on the payment of Rs 1,47,153 […]

Must-Do Tasks Before E-filing ITR

All Mandatory Tasks Needed Before ITR Filing for AY 2024-25

ITR filing is important for all specific people if their taxable income exceeds Rs 250,000 per year. According to the ITR rules, the ITR filing is also important for the person who has furnished more than 1 lac in electricity bills or offered foreign travel exceeding Rs 2 lakh in the financial year. But the […]

High Import Duties on Electric Vehicles in India

Elon Musk Accuses Import Duties of Not Entering Tesla EVs in India

Elon Musk the CEO of TESLA declared that its electric vehicle segment urge to launch the cars in India. However, the import duty of the country is much higher on Electric vehicles “highest in the world by far”. Answering the Indian YouTuber on Twitter, who has urged to launch the TESLA cars in India. In […]

How to Generate Challan 26QB Form By Gen TDS Software

How to Generate Challan-cum Statement Form 26QB by Gen TDS Software

Form 26QB (Challan-cum Statement) Under TDS To begin with, Form 26QB (Challan-cum Statement) has a twin-fold objective that is synonymous with the two blades of a single scissor – It is both a return as well as challan form for the deductions that have been made u/s 194 of the Income Tax Act, 1961 for […]

TDS Deduction on Payment to Full-Time Consultant Doctors

Mumbai ITAT to Hospitals: Deduct TDS U/S 194J on Professional Fee Payment

Curiously, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) passed a ruling for the doctor and hospitals on Tuesday that the payment that is made by the assessee hospital to the consultant doctors shall be the subject of professional payments and Tax Deducted at the source shall be applicable in the aforesaid case […]

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