Derivatives are contracts between two or more parties whose values are based on an agreed-upon underlying financial asset (such as security) or set of assets (such as an index). Among the most common underlying … READ FULL STORY
What is a bill of exchange? Bill of exchange is an order, mainly used in foreign trade, where two parties are involved and one party is required to pay a fixed amount of money … READ FULL STORY
OLTAS (Online Tax Accounting System) is a system for collecting, accounting and reporting receipts and payments of direct taxes from all kinds of taxpayers, through a network of bank branches. Different kinds of direct … READ FULL STORY
A person authorised under the Income Tax Act (ITA) of 1961 is required to deduct tax at the source for payments above a certain threshold. The TDS rates for various categories vary between 1% … READ FULL STORY
A challan is a bill receipt, invoice or an official summons, while TDS is Tax Deducted at Source. This is managed by the Central Board of Indirect Taxes. Challan ITNS 281: Background The manual … READ FULL STORY
Owning a home is a dream for every individual. Depending on the financial status, every family decides upon purchasing a house at some stage of their life. Some people happen to purchase a house … READ FULL STORY
For property buyers in Delhi, it is important to know that stamp duty and property registration charges are revised periodically, while the amount contribute as the state government’s largest revenue sources. Stamp duty and … READ FULL STORY
Advance tax payment is a monetary liability that individuals and companies in India, that earn a specific type of income, must fulfil. This guide explains advance tax and related aspects. We also discuss the … READ FULL STORY
Anyone who provides services or supplies goods must pay GST, if the output tax exceeds the input tax liability. Businesses in India can make GST payment online, as well as offline. This guide will … READ FULL STORY
From the initial choice, to finalising the purchase of your first rental property as an investment, there’s plenty of planning and work involved. You should begin hunting for your rental investment property with an … READ FULL STORY
An affidavit is a legal paper that binds a witness under oath, holding the statements made by an individual as true and abiding the constitution under Rule 3 of order 19 of the Code of … READ FULL STORY
Taxpayers can claim income tax refund from the Income Tax Department in India, in case excess tax has been deducted from their salary or other income, due to delayed or non-submission of investment proof. … READ FULL STORY
ITR full form ITR is the acronym for Income Tax Return. Who should file an ITR? Filing an ITR is necessary in case of any of the following conditions: 1. If gross income … READ FULL STORY
