Income Tax Articles
e-tax payment- Pay your taxes online
To make e- payments of all kind of direct taxes one can visit the official site of NSDL i.e. https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
How to Navigate Modified ITR for Business Reorganization: A Guide Until June 30, 2024
Modified ITR for Business Reorganization from June 2016 to March 2022 possible until June 30, 2024. Taxpayer to communicate to Jurisdictional Assessing Officer (JAO) by 30th April 2024.
Unveiling India's Real Estate Appeal: Simplified Taxes and Indexation Benefits for NRIs
This article delves into the reasons behind NRIs' interest in India's real estate, focusing on simplified taxes and indexation benefits.
194A :TDS on Interest other Interest on Securities
The article presented to show the TDS provisions contained under section 194A of the Income Tax Act
Section 194N : TDS on Cash Withdrawal
TDS on Cash Withdrawal - Section 194N, To discourage cash transaction and promote Digital Economy. The provisions of Section 194N will be applied to the payments made on or after 1st September 2019.
Know your PAN Card Details, Name, and DOB
This facility is referred to as "PAN Verification". By using the Online PAN Verification facility, one can know/verify the Permanent Account Number.
Presumptive Taxation For Professionals under Section 44ADA
In case of a person adopting the provisions of section 44ADA, income will be computed on a presumptive basis, i.e. @ 50% of the total gross receipts of the profession.
For Tax Filing - Analyze the Old & New Tax Regime
Lately, a lot of confusion has sparked on various internet platforms regarding the tax changes for the financial year (FY) 2024-25. However, the Ministry of Finance has put that to rest by putting out a clarification vide its Twitter handle that there are no changes on the tax rates as on 01.04.2024.
TDS on purchase of goods
The Finance Act 2021 has inserted a new section 194Q to provide for TDS by person responsible for paying any sum to any resident for purchase of goods of the value in excess of 50 Lakhs.
Issues Pertaining to HRA claims
The Ministry of Finance recently issued a clarification regarding media reports suggesting a special drive by the Central Board of Direct Taxes (CBDT) to reopen cases linked to House Rent Allowance (HRA) claims. These reports, according to the Ministry, are not grounded in reality, and there is no substantial evidence to support claims of a large-scale reopening of cases.
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