Union Finance Minister Nirmala Sitharaman on Tuesday presented Union Budget 2022-23 in Parliament. Budget 2022-23 aims to boost growth amid continued disruption from Covid-19 and rising inflation. This Union Budget laid…
Tax filing is not only about the filing and submission of income tax returns (ITR). The last step to successfully accomplish the process in rectifying the ITR under 120 days…
The finance ministry has introduced a ‘New tax regime’ in the Finance Act 2020. Form 10IE is a declaration made by the return filers for choosing the ‘New tax regime’…
Finance Minister Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament on 1st Feb. 2021. Union Budget 2021 is completely paperless in the view of the ongoing COVID-19 pandemic. This…
What is TDS? Tax Deducted at Source, is tax which is deducted from the income at the time of earning the income. As per the Income Tax Act, any company…
Introduction: TDS on salary falls under the purview of Section 192 of Income Tax Act. Salary is the compensation that an individual receives for providing services to a company as per…
TDS stands for tax deducted at source. TDS is a direct tax which is collected from the people at the time of payment like salary, rent, commission, etc. It is…
The Income Tax Act, 1961 provides tax benefits to individuals if either they or any of their family members suffers from certain disabilities. Section 80U offers tax benefits if an…
In the new budget for the fiscal year 2020-21, Finance Minister introduced the new income tax rate for tax-payers in India. Individuals and Hindu Unified Families (HUF) have the option to…
80GG allows the individuals to claim a deduction in respect of house rent paid. 80GG is a deduction under Chapter VI-A of the Income Tax Act, 1961. It has been introduced to…