Section 80G of the Income Tax Act,1961: Deduction Rules and Limits Introduction Section 80G of the Income Tax Act allows taxpayers to claim a deduction for donations made to specified funds, charitable institutions and approved organizations. It encourages charitable giving […]
How to Download Form 16 and Use it for ITR Filing Introduction How to download Form 16 is a common question for salaried employees during Income Tax Return filing. Form 16 is a salary TDS certificate issued by an employer […]
Income Tax TDS Online Payment, and TDS Online Payment Procedure Tax Deducted at Source, is a method used by the Indian government to collect Income Tax. Tax Deducted at Source (TDS) ensures that the government gets income tax from the […]
TDS Interest on Late Payment, and TDS Late Payment Penalty Introduction The Income Tax Department imposes TDS Interest on Late Payment and TDS Late Payment Penalty when businesses delay depositing TDS. It charges interest for each day of delay and […]
Annual Information Statement: Complete Overview Introduction The Annual Information Statement (AIS) is an important tax information tool introduced by the Income Tax Department to provide taxpayers with a comprehensive view of financial transactions linked to their PAN. It helps individuals […]
Compliance Calendar November 2021 Statutory Compliance are part and parcel of a Business. Whatever the business structure be, it is important to comply with all the necessary filings before the due dates. Starting from filing Income Tax Return to GST […]
Submission of Form 15CA and Form 15CB Under Income tax Act, 1961 Introduction Form 15CA and Form 15CB were used under the Income tax Act, 1961 to report specified payments made to non-residents or foreign companies. These forms helped the […]
Form 16 and Form 16A of TDS: Meaning, Differences, and Rules Introduction Form 16 and 16A of TDS are certificates that show the income paid and tax deducted at source by a deductor. Form 16 is mainly issued by an […]
Difference Between Direct tax and Indirect Tax Introduction In India, the Constitution grants the government the right to impose taxes, dividing this power between the state and central governments. The Parliament or the State Legislature must issue a law to […]
