Income Tax

TDS on Rent by Individual/HUF – Section 194IB & Form 26QC

Provisions of this section is applicable from 1st June 2017 A new section 194IB has been introduced from 01st June 2017. This section  requires certain individuals or HUF to deduct TDS on rent paid for the use of any land or building or both. Persons required to deduct TDS under

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Type of Bank Accounts for Seafarers

Proposed changes for Seafarers in Budget,2025 Net Income Range FY 2025-26 (AY 2026-27) Upto Rs. 4,00,000 NIL From Rs. 4,00,001 to Rs. 8,00,000 5% From Rs. 8,00,001 to Rs.12,00,000 10% From Rs. 12,00,001 to Rs. 16,00,000 15% From Rs. 16,00,001 to Rs. 20,00,000 20% From Rs. 20,00,001 to Rs. 24,00,000

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Residential Status for Seafarers (Merchant Navy)

Proposed changes for Seafarers in Budget,2025 Net Income Range FY 2025-26 (AY 2026-27) Upto Rs. 4,00,000 NIL From Rs. 4,00,001 to Rs. 8,00,000 5% From Rs. 8,00,001 to Rs.12,00,000 10% From Rs. 12,00,001 to Rs. 16,00,000 15% From Rs. 16,00,001 to Rs. 20,00,000 20% From Rs. 20,00,001 to Rs. 24,00,000

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Taxability of Salary and Other Income for Seafarers

Proposed changes for Seafarers in Budget,2025 Net Income Range FY 2025-26 (AY 2026-27) Upto Rs. 4,00,000 NIL From Rs. 4,00,001 to Rs. 8,00,000 5% From Rs. 8,00,001 to Rs.12,00,000 10% From Rs. 12,00,001 to Rs. 16,00,000 15% From Rs. 16,00,001 to Rs. 20,00,000 20% From Rs. 20,00,001 to Rs. 24,00,000

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Income Tax Guide 2025 (FY 24-25) for Indian Seafarer (Merchant Navy)

Proposed changes for Seafarers in Budget,2025 Net Income Range FY 2025-26 (AY 2026-27) Upto Rs. 4,00,000 NIL From Rs. 4,00,001 to Rs. 8,00,000 5% From Rs. 8,00,001 to Rs.12,00,000 10% From Rs. 12,00,001 to Rs. 16,00,000 15% From Rs. 16,00,001 to Rs. 20,00,000 20% From Rs. 20,00,001 to Rs. 24,00,000

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Filing Income Tax Return (ITR) for Seafarer

Proposed changes for Seafarers in Budget,2025 Net Income Range FY 2025-26 (AY 2026-27) Upto Rs. 4,00,000 NIL From Rs. 4,00,001 to Rs. 8,00,000 5% From Rs. 8,00,001 to Rs.12,00,000 10% From Rs. 12,00,001 to Rs. 16,00,000 15% From Rs. 16,00,001 to Rs. 20,00,000 20% From Rs. 20,00,001 to Rs. 24,00,000

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Income Tax Slabs & Rates for FY 24-25 and FY 25-26

Resident & Non-Resident Individuals (all age group) under the New Tax Regime under section 115BAC for  FY 2024-25 Net Income Range   FY 2024-25(AY 2025-26) Upto Rs. 3,00,000 NIL From Rs. 3,00,001 to Rs. 6,00,000 5% From Rs. 6,00,001 to Rs.9,00,000 10% From Rs. 9,00,001 to Rs. 12,00,000 15% From

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Accounting for Ebay Sellers

Doing the books of accounts for an e-commerce seller is different from maintaining traditional books of accounts. It gets further complicated if the e-commerce seller is located outside India like Ebay, Etsy etc. The final books of accounts should match with the GST returns along with the running balance with

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7 Steps to File Your Income Tax Return Online In India

An Income Tax Return (ITR) is a form that enables the taxpayer to declare his income, expenses, tax deductions, investment, and taxes. There are a number of reasons why filing an income tax return becomes crucial for a taxpayer, such as carrying forward losses, claiming an income tax refund, or

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