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Search results for: tax deduction

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 […]

I-T Dept New functionality for Section 206AB and 206CCA

CBDT Introduces New Option for Checking Compliance of New TDS Rule

The income tax department has designed and developed a new functionality ‘Compliance check for sections 206AB and 206CCA‘ that shall ease the compliance burden. The income tax department has released a circular regarding this issue. Help tax deducted at source (TDS) deductors and a tax collected at source (TCS) collectors identify/pinpoint those ‘specified persons’ on […]

Review Form 26AS Before ITR Filing

Why 26AS Form Must be Reviewed Before ITR Filing, Reasons

As for yourself or as a company If you look to furnish the ITR then the term known as Form 26AS under which all the tax is filed on your grounds through your employer or customers. What is Form 26AS? The Form 26 AS is also called a tax credit statement. It is your yearly […]

CBDT New Set of Rules for NRIs

CBDT Directs New Rules of Laws for NRIS on Non-Salary Payments

The Central Board of Direct Taxes (CBDT) has directed that the latest laws where the taxpayers will intend to file the electronic form for finding the taxable section of the amount other than salary filed to the non-resident Indian or a foreign firm for the case in which the taxpayers believes that the whole amount […]

Labour Laws 2021

Every Detail About Upcoming New Labour Laws 2022 for Workers

The new labour laws, which were to be implemented on 1st July 2022 for all the corporates and organisations under the registration of the Ministry of Corporate Affairs have been postponed as of now due to multiple states not agreeing on the terms. The new labour law will shrink working hours, and PF as well […]

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