As per Income Tax Act, a person income is taxable as per his residential status. The residential status is divided into resident, non-resident and non-ordinarily resident. Who is resident in India? Section 6 provides who is resident in … [Read more...]
TDS on Sale Of Property By NRI
In Income tax Law, your residential status is divided into resident, non-resident or not ordinarily resident and based on your residential status income is taxed. If you are non-resident and make sale of property situated in India, TDS will get … [Read more...]
TDS on Royalty : Rate & Limit
In this article we will discuss all concepts of TDS on royalty. What is Royalty for TDS section 194J? As per section 194J royalty have the same meaning as described in Explanation 2 to section 9(1)(vi). As per explanation 2 to section 9(1)(vi) … [Read more...]
TDS on Interest on Securities – Section 193
In this article we will discuss in detail the TDS on Interest on securities. What is interest on securities? Interest on securities is defined in section 2(28B) of Income Tax Act, 1961. It means Interest on any Government security, it may issued by … [Read more...]
TDS on Rent of Machinery
In this article we will discuss all major concepts related to TDS on Rent of machinery. TDS on Rent of machinery is covered under section 194I. As per this section if any rent is paid by a person (other than individual or HUF) for renting of any … [Read more...]
TDS on House Rent : Rate, Limit and Updates.
Renting of house is a contract in which owner give possession of his property to the tenant for some consideration. In this article we will discuss all concepts of TDS on House Rent. Meaning of House Rent Renting of House includes lease, sub lease, … [Read more...]
TDS on PF Withdrawal Section 192A
Are you planning to withdraw PF? Be aware of its taxation provisions before you withdraw it, so that you could do tax planning for that. It may also attract TDS. Find here complete information on TDS on PF withdrawal and its taxation. Provident fund … [Read more...]
TDS on Insurance Commission Section 194D
Insurance is a contract between the insurance company & the insured, that on happening of certain events the insurance company will protect the insured financially (in full or in part). Insurance is usually sold by an insurance agent who is … [Read more...]
GST Audit : A Guide
There are few types of GST audit prescribed in GST Law. Is it applicable to you? Read this article thoroughly to know all aspects of GST audit. What is GST Audit? The term audit is defined in section 2(13) of CGST Act, 2017. It is defined as … [Read more...]
Tax Audit Due date FY 2020-21 / AY 2021-22
Tax audit is mandatory for certain class of taxpayers having business or professional income. It is done by a practicing Chartered Accountant. In this article you will find all relevant information related to year wise Tax Audit Due Date, its … [Read more...]
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