Learn how to easily view or download Form 26AS from the Income Tax Portal. Understand the importance of this form in recording income and TDS deductions.
Section 194N is applicable on withdrawals of more than Rs 1 crore from banks/co-operative bank/post office during a financial year. It will apply to the withdrawal of all the sums of money or an aggregate of sums from a particular bank/co-operative bank/post office in a financial year.
What is an income tax audit under section 44AB? In India, various laws govern different types of audits like statutory audit, stock audit, cost audit. The core purpose of these audits is to ensure that the books of accounts are free from any error mentioned in the particular law. Similarly, Income Tax Act provides for […]
The Startup should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership. Turnover should be less than INR 100 Crores in any of the previous financial years since incorporation.
Save on your income tax with home loans: Learn about the various tax benefits available on the repayment of principal and interest.
Taxpayers need to keep in mind high-value transactions they made while filing their income tax returns. The income tax department is using analytics to scrutinize data to find out people who have not filed income tax returns (ITR) or under-reported income despite doing a high-value transaction. Let’s understand what these high-value transactions are and how […]
Do you invest or planning to invest in Equity shares? If Yes, then should have a understanding of the tax implications on sale of shares. For better understanding, first we need to know about the following two types of capital gains/losses on which taxes are levied. 1. Short-term capital gains and losses If equity shares […]
Paying tax is an important responsibility of an individual towards a nation, however, at the same time, with financial planning you can save your taxes while fulfilling your responsibility by using the tax saving schemes given by the government. Tax planning is an integral part of a financial plan that helps in the reduction of […]
Understand the Income Tax slab rates for individuals for FY 2020-21 in India. Learn about the different categories and the existing and new regime slab rates.
GST registration is mandatory for casual taxable persons or persons making supplies through e-Commerce operators and non-resident taxable persons, irrespective of turnover limit. ‘Casual taxable person’ means anyone who occasionally undertakes transactions involving supply of goods or services or both in the course of business, whether as principal, agent or in any other capacity, in […]
