Any income that is made by the way of brokerage or commission is liable to deduct tax in the form of Tax Deduction at Source (TDS) by a resident individual.
When an income which is not the salary, is received by the payee, form 26Q is used to file the TDS returns. Form 26Q is used to mention the amount of income and the TDS deducted on that income.
ITR-V Rejections can happen due to numerous reasons, including the likes of late submission, absent signature, meagre quality of form received for assessment
The book of Account can help regulate the tax slab you are in, the amount to be deducted as per specific payments and investments, the sources of income and also helps in keeping track of the income variations.
Whether looking to buy house or already own a house, this guide shall give you an insight of tax benefits attached with loan repayment and provide different avenues to reduce tax liability on income from house property.
Udyog Aadhar is the registration process for the companies to list themselves under the Micro Small and Medium Enterprises category of the Government of India.
Under the Income Tax Act, non-profit entities such as charitable trusts, religious organizations, NGOs registered under Section 12A are eligible to claim full exemption from income tax.
Professional Tax is for all whether they are self-employed, salaried or into trading and not just in professions like of a Doctor or a Chartered Accountant.
As per Section 10(14) of the 1961 Income Tax Act, special allowances are given to salaried individuals for covering the educational as well as hostel expenses of their children.
Form 16 is one of the most important forms for salaried employees, it contains all the information regarding the salary paid and the tax deducted.