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Section 194T introduces TDS @10% on payments by firms/LLPs to partners from 1 April 2025. Learn applicability, threshold Rs 20,000, compliance rules, exclusions and impact on cash flow and filings.
A very significant change that was brought in by the Union Budget 2024 was related to Long Term Capital Gains (LTCG) on the sale of immovable property and its taxability.
The Finance Act, 2023 inserted a new clause (h) in income tax section 43B that allows deductions made to MSMEs on an actual payment basis rather than the accrual basis if the payment is created within the threshold limit. This clause comes into effect from 1st April, 2023.
As per Section 2(98) of the Act,"reverse charge" means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services
In this article, we discuss all about GST Registration, including persons liable to get a GST registration, important points to be noted, calculation of threshold limit, and exceptions, etc.
In this article, we will understand the amendment in Section 194J w.e.f 1st April 2020 - Interpretation of "Fees for Technical Services" (FTS) and "Fees for Professional Services" (FPS)
NEW PROCEDURE TO FILE TDS RETURNS ONLINE W.E.F. 01.05.16 REGISTRATION WITH EFILING WEBSITE � FOR TDS RETURN Log into �TRACES� with the details of the assessee whose return is to be filed. Click at �Register for E-filing�
WHAT IS AN EQUITY LINKED SAVING SCHEME (ELSS)? ELSS is a popular mutual fund scheme that allows you to take exposure in the equity market, while simultaneously serving as a tax-saving product. It is a type of mutual fund which invests majority of its
GIFT'Gift' is a transfer of a particular movable/immovable property from one person to another without consideration/adequate consideration. TAXABILITYWhere an individual or an HUF receives an amount exceeding Rs.50,000/-,
WHAT IS AN HUF? The term Hindu Undivided Family is not defined in the Income Tax Act. It is defined under the Hindu Law as a family that consists of all persons lineally descended from a common ancestor,
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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