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Blogs by: steffy
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September 8, 2022 By Steffy A
Form 12BA of the Income Tax: Statement of PerquisitesForm 12BA of The Income Tax : Applicability and Structure Introduction Form 12BA of the Income Tax is issued under the income tax laws, which have established guidelines for the assessment of certain perquisites. Additionally, because Form 16 only contains […]
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August 22, 2022 By Steffy A
Export Oriented Unit Scheme: Eligibility, Benefits & ProcessExport Oriented Unit Scheme: Benefits & Registration Process Introduction India encourages businesses to expand into international markets through different export promotion frameworks. One such framework is the Export Oriented Unit Scheme, which is designed for eligible businesses that primarily intend […]
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July 29, 2022 By Steffy A
Section 194R of Income Tax Act: Key Provisions & ComplianceSection 194R of Income Tax Act: TDS on Benefits or Perquisites Introduction To improve tax reporting and widen the tax base, the government introduced section 194R of Income Tax Act through the Finance Act, 2022, effective from 1 July 2022. […]
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July 15, 2022 By Steffy A
Form ITR-1 Filing : Meaning, Eligibility & ProcessWhat is form ITR-1 filing And How to File ITR-1 Sahaj Form? Overview Filing your income tax return becomes much easier when you choose the correct ITR form. For most salaried individuals in India, form ITR-1 filing, also known as […]
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July 14, 2022 By Steffy A
Section 80D of the Income Tax Act: Deduction & LimitsSection 80D of the Income Tax Act: Deduction Limits and Tax Benefits Introduction Health insurance helps families manage medical expenses, while Indian tax law has also provided deductions for eligible premiums and certain medical costs. Section 80D of the Income […]
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July 1, 2022 By Steffy A
Section 115BAB of the Income Tax Act: 15% Tax RateSection 115BAB of the Income Tax Act: Tax Rate and Eligibility Introduction The Government introduced Section 115BAB of the Income Tax Act to provide a concessional corporate tax regime for eligible new domestic manufacturing companies. The provision was introduced to […]
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June 25, 2022 By Steffy A
A Complete Guide to Section 194J of Income Tax ActSection 194J of Income Tax Act: TDS Rates & Threshold Limits Introduction The section 194J of Income Tax Act governs the deduction of tax at source (TDS) on specified payments made to resident professionals and service providers. Businesses frequently […]
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June 18, 2022 By Steffy A
Section 194O of the Income Tax Act: TDS on E-CommerceSection 194O of the Income Tax Act,1961: TDS on E-Commerce Introduction Section 194O of the Income Tax Act introduced TDS on transactions facilitated through e-commerce platforms. It required an e-commerce operator to deduct tax from payments made or credited to […]
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June 17, 2022 By Steffy A
Section 54 Under the Income Tax Act: Complete GuideSection 54 Under the Income Tax Act: Capital Gains Exemptions Overview Section 54 Under the Income Tax Act provides relief from long-term capital gains tax when gains earned from the sale of a residential house property are reinvested in another […]
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