Under India’s income tax law people making certain payments are responsible for deducting tax at source (TDS) from the amount. Section 195 of the Income Tax Act deals with TDS deductions on NRI income. … READ FULL STORY
The TDS that must be deducted whenever a person pays a resident contractor for performing any service is covered by Section 194C of Income Tax Act, 1961. Here, the presence of a contract between … READ FULL STORY
Section 194J of the Income Tax Act pertains to the tax deduction on payments made to professionals or for technical services. According to this section, any person responsible for making payments to a professional … READ FULL STORY
Section 154 of Income Tax Act pertains to rectifying mistakes in an income tax return or assessment. It allows the taxpayer or the tax assessing officer to correct any mistakes or errors in the … READ FULL STORY
In the Budget 2023-24, the government has reduced the highest surcharge on personal income tax to 25% from the previous 37%. The reduced rate is applicable only on taxpayers who opt for the new … READ FULL STORY
In almost all the houses, there is no special planning to use the space under stairs. This space is often used as a storage area for all kinds of household items. However, if your … READ FULL STORY
Industrial and logistics leasing activity in Mumbai grew by 36% year on year, to touch 6.1 million square foot in 2022, says a report released on February 6, 2023. Industrial and logistics space take-up … READ FULL STORY
If you have paid excess amount of tax than your actual tax liability, you can claim an income tax refund. The Income Tax (I-T) Department will verify the returns and process the ITR refund. … READ FULL STORY
The government levies income tax on the money that people, companies, and other entities make. The tax is commonly collected by the government through payroll deductions for workers or by having people and businesses … READ FULL STORY
After being founded, a trust or non-profit organisation must register under Section 12A of the Income Tax Act to claim an exemption under Sections 11 and 12. Under Sections 11 and 12 of the … READ FULL STORY
TNReginet is the official portal of the Tamil Nadu Registration Department through which the state government offers its citizens an array of services, including registration of various documents. The TNReginet website is meant to … READ FULL STORY
The government would want to eventually switch to an exemption-free tax regime with lower tax rates, revenue secretary Sanjay Malhotra told news agency PTI on February 2, 2023. “We would like to move towards … READ FULL STORY
The Central government has allocated Rs 19,518 crore to all Metro projects in India during the Union budget 2023-24. The outlay for 2023 includes equity investment of Rs 4,471 crore, subordinate debt of Rs … READ FULL STORY
