Under Section 194-IA of the income tax law, property buyers in India are obliged to deduct tax at source (TDS) if the property value is more than Rs 50 lakh. On property deals worth … READ FULL STORY
In the Indian financial landscape, PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are two crucial identification numbers issued by the Income Tax Department. While both are alphanumeric codes, they … READ FULL STORY
The Central Board of Direct Taxes (CBDT) has extended the last date to link PAN with Aadhaar to June 30, 2023. This will provide taxpayers additional time for linking their PAN and Aadhaar without … READ FULL STORY
Submitting your Aadhar is now mandatory in invest in any of the government-backed small savings schemes from April 1, 2023, the finance ministry said in notification issued on March 31, 2023. Before April 1, … READ FULL STORY
The linking of PAN and Aadhaar is a mandatory exercise that citizens must complete before the deadline of June 30, 2023. Earlier, the deadline to link PAN-Aadhaar was March 31, 2023. However, several users … READ FULL STORY
As housing societies are not apparently engaged in any income earning activities, there is a perception that they are not required to comply with any income tax provisions. This impression is heightened by the … READ FULL STORY
With rapid computerisation, an individual’s PAN (Permanent Account Number) has become an important document, for many financial and non-financial transactions. It is equally important for buying or selling properties or leasing it out. For … READ FULL STORY
With the government of India hinting at its intention to link Aadhaar numbers with property transactions, several analysts have hailed the proposed move as a game-changer, while others have questioned its intent, its chances … READ FULL STORY
