Section 194C of the Income Tax Act covers tax deductions on payments to contractors and subcontractors for work contracts. Learn about Section 194C and the TDS rates.
One of the first documents that we are supposed to check when filing tax returns is the Form 26AS. This is automatically uploaded by the Income Tax department into your secured PAN access area in the e-filing website. Form 26AS is not only an important document but also one of the most authentic records of how much tax has been deposited by your deductor into the government account.
Learn why tax planning is crucial for long-term investments. This guide explores tax-efficient strategies that can optimize returns and reduce liabilities over time.
This comprehensive guide explains everything you need to know about ELSS mutual funds, including tax benefits under 80C, lock-in period, risks, and investor suitability.
Patta Chitta is a land ownership record kept by the Tamil Nadu government. Learn more about Patta Chitta and its importance in this quick guide by India Infoline.
Filing of income tax provides proof for your income as legal and disclosed. It helps you in many ways such as getting refunds, applying for loans, applying for tenders, startup funding etc.
The government collects taxes in the form of income tax, direct taxes and indirect taxes. Direct taxes are paid to the government directly from the individual earning money. On the other hand, indirect taxes are the seller’s responsibility to deposit with the government.
One important feature of the financial environment is the income tax on intraday trading. Both traders and investors frequently find it to be confusing. Purchasing and selling financial products during the same trading day is known as intraday trading, and the goal is to profit from brief price movements. Even if there is a chance for significant earnings, it is crucial to comprehend the tax […]
A direct taxation system applies income-based taxes at predefined rates on individuals and businesses. Depending on the kind of taxpayer, this kind of taxation can be divided into corporation and personal taxes. In India, different types of corporate tax make up a sizable portion of the tax code and affect businesses of all kinds and sectors. Anyone interested in learning more about India’s tax system […]
Professional tax is a popular term, especially among salaried individuals. The payslips and Form 16 issued to salaried individuals evidently mention the deduction of this tax.
Double taxation occurs when the same income gets taxed twice, either in two different countries or under two different tax regimes in the same country. This places an extra and unfair tax burden on taxpayers. However, India’s tax laws provide certain relief measures that you can avail to reduce the impact of double taxation on your finances. This article will discuss what double taxation relief […]
An advance tax meaning is pay-as-you-earn plan, is simply paying tax obligations ahead of time at the end of a fiscal year. It is due when a person’s tax liability in a given fiscal year reaches Rs. 10,000. Notably, this type of tax is paid in the year that the revenue is created and is paid in instalments on due dates. Since it makes it […]
Learn why tax planning is crucial for long-term investments. This guide explores tax-efficient strategies that can optimize returns and reduce liabilities over time.
This comprehensive guide explains everything you need to know about ELSS mutual funds, including tax benefits under 80C, lock-in period, risks, and investor suitability.
Individuals often earn income from various sources worldwide. However, not all countries tax foreign income earned by their residents. If you’re an Indian resident with income sourced from abroad, you may wonder about India’s taxation policies concerning such earnings. The Indian tax system does indeed impose taxes on foreign income. This article aims to explore all about taxation of foreign source income in India. Qualifying […]
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