Under the Income Tax Act, Form 16, 16A, and 16B refer to TDS certificates issued by the deductor to the deductee, which certify that tax has been deducted.
When taxpayers are involved in making payments to Non-Residents, they shall comply with the provisions of income tax which requires the taxpayers to file Form 15CA and 15CB as applicable.
In the following article, we explain all the steps required to calculate tax returns and the basics of income tax, from a beginner's perspective.
One can now buy a house at a rate of 20% lower than the circle rate. This new norm is for residential units up to Rs. 2 Cr. and will be effective till 30th June 2021.
Many of us get refunds from the Income Tax Department while some of us don't. So, let's discuss when and how does one get a refund along with the complexities involved?
In the case of contractual employees and freelancers, there is no employer-employee agreement. Thus, it comes under the ambit of professional services and TDS for the same is deducted u/s 194J.
Here is a brief about Indian Income Tax Law for lawyers and law students. You can also understand Indian Income Tax law in detail with our best in class income tax books that are now available for purchase online.
The E-Invoicing system in GST was launched on 1st October 2020. E-Invoicing has successfully completed a month on 31st October 2020. How has it brightened the GST system?
Who can forget? Nov 8, 2016. Time: 8 p.m. PM Modi announced the demonetization of Rs. 500 and Rs. 1000 notes. On its fourth anniversary, we remember the demonetization decision and its implications today.
On 13.8.2020, PM launched a new platform for transparent taxation - ‘honoring the honest’. The major thrust of this platform is on two pathbreaking & bold reforms - faceless assessments and faceless appeals.
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