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February ended on a good note for the country and its economy as a total of 6.35 Crore Income Tax Returns were being filed electronically in mid-February. The number hiked from 6.28 Crore in 2018-19. Replying to the question of Lok Sabha, Minister of State for Finance Anurag Singh Thakur said the numbers are constantly […]
Latest Regulation for Companies Under Form SPICe Plus Spice+ is a new web-based form in place of the Spice Form. To make the company incorporation process easier MCA has deployed a new web-based form spice+ and other registration along with the form. Now the company can apply for EPFO/ESI, and GST numbers as well with […]
As per a recent survey report, brands are acting sluggish in providing the benefits of GST rate reduction to the consumers. The report also stated that consumers also want to want anti-profiteering investigation should not be limited to just the product that has been complained about. This consumer survey is conducted by local circles about […]
TDS returns must be filed by respective organizations or taxpayers according to a predefined schedule. In this post, we have guided some of the important questions and their solution about the TDS return filing. Tax Deducted at Source (TDS) is a type of direct tax introduced by the income tax department of India that requires […]
A giant structure of the do’s and don’ts is well built for a Non-Resident Indian (NRI) who wants to sell his property to a resident in India. In terms of selling, the deal between an NRI seller and a resident buyer goes through many formalities. Both parties have to be extra vigilant while making a […]
Tax Deducted at Source or TDS refers to an advance tax which is deducted from the income or earnings of an individual or an organization before actually crediting the income into the account of an individual or entity, as per the Taxation Code of India. As the name suggests, Tax deducted at source, it is […]
Permanent Account Number (PAN) is marching forward towards becoming an inevitable number for any transaction or deal made by an individual. Time is approaching when there is a need to link all the transactions with the Income Tax Department through PAN. PAN basically assists the tax authorities in identifying an individual or a corporate body […]
At the point of origin of income, the taxpayers in India have to pay TDS (Tax Deducted at Source) as per the Income Tax Act, of 1961. An amount from the total earnings received by a deductee or receiver is generally withheld by the deductor (person, institution, or organization). This deducted amount is equal to […]
Under the provisions of Section 194C and Section 194J, an individual or HUF is not liable to pay tax if they are not liable to get the tax audited under Section 44AB(a)/44AB(b). So, an individual or HUF need not get the tax deducted from the payment which they made to a contractor or professional for […]
