Income Tax Articles
Why Indian Income Tax New Tax Regime is the Government's Favorite Child!
In this article, I will be discussing the new tax regime in India, comparing it with the old income tax regime, and explaining why the new regime is the government's favorite child.
Section 194Q: TDS on purchase of goods
The implication of section 194Q in the Income Tax Act, 1961 is one of the several desperate attempts of the Government to increase the flow of revenue into the exchequer.
Section 194DA: TDS on Payment of Life Insurance Policy
Section 194D of the Income Tax Act requires tax to be deducted at source on any commission or reward paid for procuring insurance business.
Akshaya Tritiya 2023: What to Keep in Mind Before Investing in Gold
Gold prices and their relationship with the US dollar or the dollar index are strongly correlated. As the dollar rises, gold prices tend to fall, while when the dollar weakens, the price of gold tends to increase.
How to e-Verify Your Income Tax Return
E-Verify is a process that allows taxpayers to verify their Income Tax Return (ITR) electronically.
Maximizing Your Take-Home Pay: Tips for Tax-Efficient Salary Restructuring in India
As a salaried employee in India, you're likely to be paying a significant amount of your income in taxes. However, by restructuring your salary package in a tax-efficient way, you can keep more of your hard-earned money and pay less in taxes. Here are some tips on how to do it:
Section 194IA | TDS on Sale of Property
Section 194IA of the Income Tax Act is a provision related to the deduction of tax at source (TDS) on payments made for the purchase of immovable property.
Benefits of Filing ITR on time for FY 2022-23
Filing your income tax return on time comes with various benefits. It not only helps you to avoid penalties and interest charges but also helps to build your financial history, improve your credit score, and increase your chances of obtaining loans and credit cards.
Recent ITAT rulings on Royalty and Fees for Technical Services
ITAT held that the usage of Microsoft license and service desk facility dealing with IT incidents will not be treated as royalty and Fees for Technical Service (FTS).
Most Commonly Used TDS Sections along with TDS Rates and Threshold Limit
Tax Deducted at Source (TDS) is a mechanism of collecting income tax at the source of income itself. TDS is applicable to various types of payments such as salary, interest, commission, rent, etc.
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