2023-04-10 06:39
Are you looking for a credit card that offers a range of benefits and rewards while also meeting your financial needs? Look no further than IndusInd Bank, one of India's leading banks offeri… Read More
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Income tax rates, Service Tax, Pan verification, HRA, EPF, 80C,80D, Tax Tips, ITR, TDS rates ,challan, Tax calculator ETDS return, India, capital gain
2023-04-03 07:46
The Institute of Chartered Accountants of India (ICAI) has made a valuable resource available for free download in PDF format. The publication, titled "Exempted Supplies under GST – Ha… Read More
2023-04-02 16:18
The Institute of Chartered Accountants of India (ICAI) has recently made available a new publication titled "Handbook on Blocked Credit under GST," which can be downloaded for free in PDF fo… Read More
2023-04-01 12:58
The Union Budget 2023 has brought in several changes with regards to the time limits for completing assessments. The budget has revised the time limits for completing scrutiny assessment, be… Read More
2023-04-01 06:54
The Mahila Samman Saving Certificate Scheme is a newly announced small savings scheme for women and girls by the Indian government. The scheme will be available for two years from April 2023… Read More
2023-04-01 06:54
Introduction:The new financial year 2023-24 is set to begin on April 1, 2023, and taxpayers in India will be affected by several changes to the income tax rules. These changes were announced… Read More
2023-03-31 17:23
Introduction:The Indian government has recently hiked the interest rates of small savings schemes by up to 70 basis points (bps) for the April-June 2023 quarter. This move comes as goo… Read More
2023-03-29 17:44
I. IntroductionSmall finance banks in India have recently been offering high-interest rates on fixed deposits, which have piqued the interest of many investors. However, these banks are rela… Read More
2023-03-28 15:32
The Central Board Trustees (CBT) EPF has recently recommended an 8.15% annual rate of interest to be credited on EPF accumulations in members' accounts for the financial year 2022-23. This d… Read More
2023-03-27 08:03
Income tax is levied on the income earned by all individuals, HUF, partnership firms, LLPs, and Corporates as per the Income Tax Act of India. In the case of individuals, tax is levied as pe… Read More
2023-03-27 06:09
As the new financial year, FY 2023-24, is ready to begin, taxpayers are looking to prepare their estimated tax for the New Financial year. With the introduction of the new tax regime after B… Read More
2023-03-09 10:45
Every taxpayer in India is required to pay taxes to the government as per the Income Tax Act, 1961. The Income Tax Act mandates that individuals with an estimated tax liability of Rs. 10,000… Read More
2023-03-09 02:00
Introduction:The Income-tax Act has provided an exemption from payment of advance tax to resident senior citizens. As per section 208 of the Income Tax Act, every person whose estimate… Read More
2023-03-07 17:24
Introduction:The Finance Act, 2022 has amended the provisions relating to late filing fees and penalty for failure to furnish or delay in furnishing the TDS/TCS statements. The provisi… Read More
2023-03-07 07:26
The Income Tax Act provides for provisions to carry forward and set off losses incurred by taxpayers. These provisions are applicable to various types of losses, including business losses, c… Read More
2023-03-03 07:05
Nowadays, credit card payment is the preferred form of making purchases, both online and offline. Credit cards make it simple to buy things with a single tap or swipe. However, card users al… Read More
2023-02-27 07:19
Introduction:In India, the tax system requires taxpayers to pay their taxes on time. This includes paying taxes on income earned as well as taxes collected at the source, commonly referred t… Read More
2023-02-26 07:33
IntroductionShort-term capital gain refers to the profit earned by a taxpayer from the sale of a capital asset held for not more than 36 months before its transfer. On the other hand, a long… Read More
2023-02-23 16:48
Introduction:Tax Deducted at Source (TDS) is a system implemented by the Indian Income Tax Department to collect tax at the source of income. The aim of TDS is to ensure a regular inflow of… Read More
2023-02-23 14:07
Section 194A is a provision in the Income Tax Act that deals with the deduction of tax at source on interest income. Under this section, any person responsible for paying interest to a resid… Read More
2023-02-21 10:41
I. Introduction:Generally, Cash credit is a type of loan facility that allows a borrower to withdraw funds from a pre-approved credit limit. It is an important source of working capital for… Read More
2023-02-21 05:38
When it comes to children, they are often viewed as a source of expenses for parents. However, the Indian Income Tax Act provides certain exemptions that can be availed of in relation to chi… Read More
2023-02-21 04:16
I. IntroductionA. Explanation of the topic: Interest on excess refund refers to the interest charged to taxpayers by the income tax department in case there is an excess refund allowed… Read More
2023-02-19 13:14
IntroductionA. Definition of Presumptive Income SchemeThe Presumptive Income Scheme is a tax compliance mechanism under the Indian Income Tax Act. It allows certain small taxpayers to calcul… Read More
2023-02-19 12:27
IntroductionWhen an individual sells a residential property, they are liable to pay capital gains tax on the profit they earn from the sale. However, the Income Tax Act provides certain exem… Read More
2023-02-19 04:54
Introduction:An income tax return is a document that taxpayers file with the tax authorities, declaring their income, expenses, deductions, and taxes owed to the government. It is a crucial… Read More
2023-02-18 16:16
The 49th GST Council Meeting was held on 18th February 2023, under the chairpersonship of Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman in New Delhi. The meetin… Read More
2023-02-16 15:47
Axis MY Zone Credit Card is an exciting credit card that is best suited for people who seek lifestyle benefits on every transaction. This card provides special cashback offers, discounts, an… Read More
2023-02-16 06:42
Introduction:Filing income tax returns is a critical requirement in India for individuals, HUFs, and businesses. The process is essential to comply with the laws and regulations set by… Read More
2023-02-03 07:36
Direct Tax
This Budget, being the the first Budget in
Amrit Kaal, hopes to build on the foundation laid in the previous Budget, and
the blueprint drawn for [email protected].
The economic ag… Read More
2023-02-03 07:35
GST
GST
has been a landmark reform of Independent India showcasing the spirit of
Cooperative Federalism. While aspirations were high, there were huge challenges
too. These cha… Read More
2023-02-03 07:35
CHANGES IN
CUSTOMS
The Finance Minister has introduced the
Finance Bill, 2023 in Lok Sabha today, that is February 1, 2023. Changes in
Customs, Central Excise, GST law and rates have… Read More
2023-02-02 13:05
Introduction:The government has recently proposed a change in the personal income tax regime with the introduction of the new tax structure in the year 2020. This has resulted in a lot of co… Read More
2023-02-01 17:22
Income Tax Calculator as per Budget 23 AnnouncementsThe recent Budget 23 announced several changes in the tax regime, making it crucial for individuals to understand how the changes wi… Read More
2023-02-01 12:14
"Celebrating the Spirit of Freedom with Azadi Ka Amrit Mahotsav Mahila Samman Bachat Patra"The Indian government has recently announced the introduction of a new small savings scheme… Read More
2023-02-01 11:20
Senior Citizen Savings Scheme (SCSS) and Monthly Income Scheme (MIS): An Increased Limit for Senior Citizens in Budget-23With the aim of promoting financial security and stability among seni… Read More
2023-02-01 11:13
Promoting Timely Payments to Micro and Small Enterprises - A Tax Proposal in Budget 2023Introduction:The Indian government has always been keen on promoting the growth and development of mic… Read More
2023-02-01 10:45
Section 87A of the Income Tax Act: A Guide for Indian ResidentsThe Union Budget 2023 has proposed several changes to the provisions of Section 87A of the Income Tax Act. This section i… Read More
2023-02-01 10:06
Exemption of Income Tax on Leave Encashment: A Guide for Non-Government Salaried EmployeesIf you are a non-government salaried employee who has recently retired or is planning to retir… Read More
2023-02-01 09:08
Easing Compliance and Promoting Non-Cash TransactionsIntroduction:The existing provisions of the Income Tax Act provide for presumptive income schemes for small businesses and professionals… Read More
2023-02-01 08:56
Introduction:The Indian government announced the Gold Exchange in the Union Budget 2021-22, with SEBI being made the regulator of the proposed gold exchange. SEBI has released a regula… Read More
2023-02-01 08:32
The Union Budget 2023-24 presented by the Minister of Finance and Corporate Affairs, Smt. Nirmala Sitaraman has made significant announcements with respect to personal income tax that will b… Read More
2023-02-01 08:17
IntroductionThe Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, recently announced several direct tax proposals with the aim to maintain continuity and stability of tax… Read More
2023-02-01 07:29
Budget 2023-2024
Speech of
Nirmala Sitharaman
Minister of
Finance
February 1, 2023
Hon’ble
Speaker,
&nb&hell…Read More
2023-01-31 16:56
Economic Survey 2022-23: A SummaryThe Economic Survey 2022-23, tabled in the Parliament today by the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman provides… Read More
2023-01-30 17:50
Pension policies and the New Pension Scheme (NPS) are similar products that offer tax-efficient savings for retirement. However, there is a disparity between pension schemes offered by Life… Read More
2023-01-30 17:38
In an effort to promote affordable housing, the Finance (No. 2) Act of 2019 introduced a new section 80EEA, providing an additional deduction of up to Rs 1,50,000/- for interest paid on loan… Read More
2023-01-30 17:26
Introduction:With an aim to improve the environment and reduce vehicular pollution, the Finance (No. 2) Act, 2019 introduced a new section 80EEB. This section provides an additional income t… Read More
2023-01-30 15:00
1. Raising the minimum threshold for launching prosecution under GST from Rs. One Crore to Rs. Two Crores, except for the offence of issuance of invoices without supply of goods or se… Read More
2023-01-30 14:41
Nowadays, we live in a highly commercialized world and a modern, often expensive lifestyle is required to match what the world offers. However, that may not always be easy if you don’t… Read More
2023-01-29 17:13
Introduction:Owning a house property is a significant investment for many individuals. However, the tax implications of owning a vacant house property can be confusing, particularly when it… Read More
2023-01-29 17:11
Introduction:Purchasing a home is one of the most significant financial decisions that an individual can make. It is also a significant expense, and many individuals rely on home loans to fi… Read More
2023-01-29 09:18
IntroductionLife insurance policies (LIPs) are an important financial tool for securing the future of individuals and their families. However, certain issues related to tax exemptions under… Read More
2023-01-28 16:54
Introduction:The COVID-19 pandemic and subsequent lockdowns have led to a significant shift in the way we work, with many organizations implementing work from home policies. While this has a… Read More
2023-01-28 16:07
Pensions are an important source of income for many people, particularly those who are retired or nearing retirement age. However, there is often confusion surrounding the tax implications o… Read More
2023-01-28 16:05
Introduction:PAN or Permanent Account Number is a unique identification number issued to taxpayers by the Income Tax Department of India. It is a 10-digit alphanumeric number that is mandato… Read More
2023-01-27 16:27
IntroductionThe Employees' Provident Fund (EPF) and the General Provident Fund (GPF) are important savings schemes for employees of the government and public sector undertakings. However, ce… Read More
2023-01-27 15:56
IntroductionSection 139 of the Income Tax Act lays out the provisions for filing of returns of income by taxpayers. Sub-sections 4 and 5 of this section deal with the time limit for filing b… Read More
2023-01-26 17:16
In today's real estate market, builders and developers often struggle with unsold properties that are held as stock-in-trade. Section 23(5) of the Income Tax Act provides for a notional rent… Read More
2023-01-26 16:48
Introduction:As a salaried employee, it is important to be aware of the tax implications of the various forms of income you receive. One such form of income that may cause confusion is the n… Read More
2023-01-26 16:45
Introduction:As an individual with a disability, it is important to be aware of the various tax deductions and exemptions that can help lower your tax liability. One such provision that can… Read More
2023-01-26 16:39
Introduction:As a senior citizen, it is important to be aware of the various tax deductions and exemptions that can help lower your tax liability. The Finance Act 2018 inserted a new section… Read More
2023-01-26 16:33
Introduction:As an individual or a Hindu Undivided Family (HUF), it is important to be aware of the various tax deductions and exemptions that can help lower your tax liability. One such pro… Read More
2023-01-26 15:11
Partnership firms are a popular form of business organization in India. One of the key considerations for partnership firms is the remuneration and salary paid to working partners. Currently… Read More
2023-01-26 14:48
Section 54EC of the Income Tax Act provides for capital gain exemption on investment in specified bonds. The section is intended to encourage investment in certain bonds that are approved by… Read More
2023-01-25 18:04
Introduction:As a salaried employee, it is important to be aware of the various tax deductions and exemptions that can help lower your tax liability. One such provision that can help you sav… Read More
2023-01-25 17:58
The COVID-19 pandemic has had a significant impact on individuals and families, and many have incurred significant medical expenses for treatment. In light of this, it may be considered to a… Read More
2023-01-25 17:50
Section 80C – Other than Life Insurance Premium paymentsDeduction for insurance premium relating to travel, home, and other assets is an essential tool to encourage policyholders to se… Read More
2023-01-25 17:34
Introduction:Section 80G of the Income Tax Act allows for deductions on certain prescribed donations made to charitable organizations. However, the deductions are subject to a ceiling of 10%… Read More
2023-01-25 17:26
"Navigating the : A Guide for Small and Medium Enterprises"Introduction:The Indian government has made significant efforts in recent years to ease the compliance burden for small and m… Read More
2023-01-25 15:56
Section 71(3A) of the Income Tax Act deals with the set-off of losses arising under the head "Income from House Property" against any other head of income. As per the current provision… Read More
2023-01-25 15:48
Section 54 and 54F of the Income Tax Act in India provide tax exemptions for individuals who invest in a residential house after selling their existing property. These sections are aimed at… Read More
2023-01-25 15:46
Section 44ADA of the Income Tax Act is a special provision that allows for computing the profits and gains of certain professions on a presumptive basis. The section was introduced in the Fi… Read More
2023-01-25 15:39
Section 44AE of the Income Tax Act prescribes presumptive taxes on heavy goods vehicles (HGVs). Clause (i) of sub-section (2) of this section states that the presumptive rate of income is eq… Read More
2023-01-25 15:34
Section 44AD of the Income Tax Act provides for a presumptive taxation scheme for businesses with an annual turnover of up to 2 crores. Under this scheme, businesses can choose to pay taxes… Read More
2023-01-25 15:29
Section 44AB of the Income Tax Act in India is related to the mandatory audit of accounts for certain businesses. According to this section, every person carrying on business is required to… Read More
2023-01-25 15:10
Employee Stock Option Plan (ESOP) is a popular mode of compensating employees for their services, with the intention of retaining dedicated employees and generating more revenue for the comp… Read More
2023-01-25 15:06
Corporate Social Responsibility (CSR) has become an increasingly important aspect of doing business in today's world. The Companies Act, 2013 makes it mandatory for specified companies to sp… Read More
2023-01-25 15:04
The Income Tax Act provides for a grandfathering provision under Section 10(38) for long-term capital gains on the sale of listed equity shares acquired prior to February 1, 2018. This provi… Read More
2023-01-25 14:59
Raising children is a significant financial responsibility and one that can be especially challenging for working parents. In recognition of this fact, the Income Tax Act provides for an exe… Read More
2023-01-25 14:54
The National Pension System (NPS) is a government-backed pension scheme that allows individuals to contribute towards their retirement savings. Section 10(12A) of the Income Tax Act provides… Read More
2023-01-08 16:14
The best credit card for you will depend on your financial needs and goals. Some features to consider when looking for a credit card include:Low-interest rates: A low APR means that you will… Read More
2022-12-13 05:05
As per the
Finance Act, 2022, the rates of income tax for the FY 2022-23 (i.e. Assessment Year 2023-24) are as follows:
… Read More
2022-12-12 17:03
Yes, Now you can get a Lifetime free credit card from IDFC First Bank. There is no joining or annual fees on the card. Apply Now IDFC First Life Time Free Credit cardThe main… Read More
2022-12-12 07:28
Section 192(2B) enables a taxpayer to furnish particulars of income under any head other than "Salaries" (not being a loss under any such head other than the loss under the head ― &lsq&hell…Read More
2022-12-12 05:49
Section 192(2) deals with situations where an individual is working under more than one employer or has changed from one employer to another. It provides for the deduction of tax at source b… Read More
2022-12-11 06:20
We are sharing an Excel-based 15-in-one software by CMA Pravesh Sharma. You will find all tax-related calculations in one file.This excel file has mainly 15 types of calculation… Read More
2022-12-11 04:48
If you have received arrears of salary/pension in the Financial year 2022-23 related to the previous year(s) then your tax liability will be on the higher side due to arrears but do you know… Read More
2022-11-11 05:50
Yes, This is true. Now you can avail 80% Discount on Diagnostic Tests. Just Deposit one Time of Rs 1000 and avail test worth Rs 5000 at leading labs near you. You may book these… Read More
2022-09-05 11:22
Get Axis my Zone Credit card for Life Time free, with No Joining Fees No annual fees https://ekaro.in/enkr20220905s14908308Yes, the Latest offers for all Simple Tax India users, Axis Ba… Read More
2022-08-11 06:46
Balwant JainTax laws allow certain tax benefits for premium
paid for life insurance polices as well as in respect of money received from
life insurance company. Let us discuss.Tax benefits f… Read More
2022-07-13 04:24
IGST is leviable on the interest component of EMI of loan advanced
by the Bank through credit card
The Hon’ble Calcutta High Court in Mr.
Ramesh Kumar Patodia v. Citi Bank NA &a&hell…Read More
2022-07-13 04:18
A
personal loan is a great way to borrow money without any collateral. It is
easier to apply and does not demand a lot of paperwork. It has a flexible
end-use purpose, meaning you can use th… Read More
2022-07-04 07:22
All banking and investment transactions of a non-resident
in India are regulated under Foreign Exchange Management Act (FEMA). Non-residentIndian
citizensand Persons of Indian Origin (… Read More
2022-05-27 11:37
Balwant Jain
If you want to help someone by giving your assets whether
partly or fully to anyone for his benefit you can do so by two methods. Either
you can make a gift of the assets while… Read More
2022-05-25 06:00
Balwant JainThere is lots of confusion about new tax regime. People are not able to decide which one to opt for. Let us discuss the new tax regime. Basics of scheme The new t… Read More
2022-05-24 05:10
In the administration of taxation,
the provisions for arrests are created to tackle certain situations raised by
some unscrupulous tax evaders. Arrest provisions may appear to be very… Read More
2022-05-11 11:27
Gratuity is taxable in employees' hands subject to some Exemption and rebates. Tax on Gratuity payment is dependent on the status of the Employee. To check the taxability of Gratuity payment… Read More
2022-04-28 06:09
One card is India's best metal credit card. Built with full-stack tech. Backed by the principles of simplicity, transparency, and giving back control to the user. OneCard is… Read More
2022-02-07 04:32
Goods and Services Tax (GST) came into effect from 1st July 2017 through the implementation of the One Hundred and First Amendment of the Constitution of India. It is one of the most signifi… Read More
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