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The most prominent software in the market which fills TDS easily is Gen TDS; it includes all required specifications that help in furnishing the returns. Furthermore, Gen TDS software is an easier and user-friendly platform that is specially made to file the TCS along with TDS returns beneath the regulations of the TRACES in India. […]
The revenue council on Monday specified that people are not paying the returns despite they have been founded with turnover in crores and declares that for the honest assessees while also stating that there will be no major amendment in the reporting of GST turnover data in Form 26AS. There is no more load on […]
Furnishing of income tax returns is important. The income tax is mandatory for the people who have passed away. According to the income tax department of India tax must be furnished for the year in which the individual has died. Various people do not have any idea about this rule. It is another essential thing […]
In the near future, the income tax officials soon have the gesture which permits all assessments to correct their automatic generated financial statement via e-portal independently. For the filing tax services, the department indeed launches the mobile application like tax credit information, effective demands, IT return verifications Get to know about top 6 quick methods […]
Tax deducted at source (TDS) implies the deduction of money before paying to the payee. There are some Dos and Don’ts for those who deduct the tax slabs such as TDS deductors, demand and statement filling closure, and depositors. One can avoid the late payment fees on interest amount by TDS depositors, as by filing […]
The government wants some assessees to pay the taxes even before they have some income and ascertain the TDS (Tax Deducted at Source) on it to pay. Such assessee includes those taxpayers who have to pay self-assessment tax amounting more than Rs. 1 lakh for the financial year 2019-20 and if any assessee fails to […]
Section 194IA of the Income Tax Act 1961 states that tax should be deducted at source, during the sale of the property, by the buyer from the payment made to the seller. TDS is required to be deducted during the sale of every type of property except during the sale of agricultural land. TDS will […]
As per the recent update from the income tax department, the department has notified about the revised form 26AS which is mainly utilized for collection of the tax collected or basically tax deducted at source under which there will be details such as property and share transactions. The revised form 26AS is now a detailed […]
In hearing for an appeal the ITAT stated that even if the onus is cast upon the assessee to prove their received cash credits, the tax authorities need to go through the documentary evidence which is represented by the assessee, before making additions in cash credit Under section 68 of Income Tax Act, 1961 Get […]
