Income Tax

How to link your Aadhaar card with Income Tax PAN number

As per new section 139AA and judgment of Supreme Court dated 9 June 2017, following thing shall apply from 1st July 2017 :- Every person who wants to file Income Tax Return or wants to apply for PAN card shall require to quote their Aadhaar Number. If the person do not possess

Read More »

Contribution to Certain Pension Funds – Section 80CCC

Eligible assesse – Individual Under this section deduction is allowed if assesse has paid or deposited an amount  in any annuity plan of the LIC of India or any other insurer for receiving pension from a fund referred to in section10(23AAB). Amount of deduction is lower of the amount so

Read More »

Set off & Carry forward of Losses

Set off of losses under the same head of income If there is a loss from any source of income under any head, then it is to be set off against income from any other source under the same head. The exceptions to this rule are Loss from speculation business-

Read More »

Deduction of Interest on Housing Loan – Section 24b

Introduction Section 24b of income tax act allows deduction of interest on home loan from the taxable income. Such loan should be taken for purchase or construction or repair or reconstruction of house property. Such deduction is allowed on accrual basis, not on paid basis. In other words, the interest

Read More »

TDS on Income from Units of Business Trust – Section 194LBA

This section is inserted by Finance Act 2014 and is applicable from 1st Oct, 2014. Tax is to be deductible if a business trust distributes any income referred to in section 115UA being of the nature referred to in section 10(23FC) to its unit holder. Time of deduction – Tax

Read More »

TDS from insurance commission – Section 194D

Person responsible for paying to a resident commission or otherwise for soliciting or procuring insurance business including continuance, renewal or revival of policies is required to deduct TDS. TDS is required to be deducted at the time of credit of such amount or payment thereof whichever is earlier. TDS is

Read More »

Section 194A – TDS on Interest – The Complete Guide

What is Section 194A? Section 194A of Income tax act contains provisions regarding TDS to be deducted on interest payable like interest on fixed deposit, interest on unsecured loan. Interest on securities are not covered under this section but covered under Section 193. Payment on which TDS to be deducted

Read More »

Section 192 – TDS from Salary

Section 192 of income tax act contains provisions regarding tds on salary. An employer is required to deduct tds from the salary payable to the employees. Topics covered in this article – Employers which are required to deduct TDS Time of Deduction Calculation of tax to be deducted Calculation of

Read More »

Our Products

Practice Management Software for Chartered Accountants/Tax Professionals

Manage your practice efficiently. Save your team efforts and time. The only practical software in market with reasonable pricing.

GST Return Status Bulk Checker

Check GST return status of your client’s or suppliers in bulk. Check status of any number of GSTIN with single click. Only GSTIN is required of client or supplier. We use GSTN authorised APIs, so data is always 100% correct.

Are you a CA or GST Practioner?Manage your GST Practice in an
easy way

Leave all hassles of Excel/Google Sheets
Know about Awesome Features!

Upgrade to paid query in Rs. 499 and get answer within 24 hours

NOTE - You may get answer to free queries within 30 working days
Take a 30 day free trial for the most powerful CA office Management Software.
Know More