Income Tax

  Income tax exemption limit raised Indirectly to Rs. 5 lakh. No change in Income tax slabs. The rebate under section 87A is raised to Rs. 12,500 for persons with income of up to Rs. 5 lakh. TDS threshold on rental income …

Meaning of Clubbing In general, clubbing means including the income of any other person into the Assessee’s total income for the purpose of taxation. Certain cases have been defined under the Income Tax Act, in which the income of other person is …

There is the various way in which you can verify your e-return, one of which is using bank account details. This option comes handy when you do not have a mobile number registered in your Aadhar card and even do not use …

Many times, deductor have to make the changes in the previously filed TDS return due to some mistake, omission etc. TRACES provide online functionality for making various types of the corrections in the already filed TDS return which are as follows: – …

Meaning of seafare How seafarer earn Income Tax on seafarer Meaning of Seafarer A sailor, seaman, mariner or a seafarer is a person who navigates water bone vessels or assists as a crew member in their operation and maintenance. Seafarer holds a …

Standard Deduction of 30% of Annual Value is allowed as deduction to every person. Any type of expenses incurred by the assessee for acquiring, constructing, repairing, reconstructing, maintaining, renovation, renewal etc shall not be allowed as deduction. Flat 30% of deduction shall …

1. What is freelancing? 2. How freelancer earns? 3. Accounting for freelancer 4. GST on Freelancer 5. Income Tax on Freelancer What is freelancing? Freelancer is a person who is self-employed and generally works on project basis or assignment basis for clients. …

Appeal under GST GST tax laws primarily impose two types of obligation – tax-related and procedural related, which are required to be compiled by the tax-payers. The taxpayer’s compliances with this obligation are verified by the proper tax officers via return filing, …

As per Section 195, any person responsible for paying to a non-resident, not being a company, or to a foreign company, any interest (not being interest on securities) or any other sum chargeable under the provisions of this Act (not being income …

Where any refund is payable to the assessee, the assessee is entitled to receive interest along with the refund as per the following provisions- When refund is of any advance tax paid or TDS or TCS – The interest is payable at …