TABLE OF CONTENTS Introduction Types of Taxation in India Direct Tax Indirect Tax GST in India 3. Tax Structure in India 4.Direct and Indirect Taxation Benefits 5.Conclusion 6.FAQs Introduction The Indian tax system today was conceptual...
admin25 Feb 2025
Section 194C of the Income Tax Act, 1961 deals with the provisions related to deduction of TDS at the time of payment to contractors/sub-contractors. According to this section any person making payment to the resident contractor (or subcontractor) for carrying out any...
admin3 Jun 2021
The Income Tax Return Filing due dates for Previous Year 2018-19 (Assessment Year 2019-20) are 31st July 2019 for Individuals, HUF, BOI & AOP and 30th September 2019 for businesses which are required to get their accounts audited. There are many queries and confus...
admin16 May 2019
Q. Who is liable to pay Advance tax? As per Section 208 of the Income Tax Act, Every person (individual, firm, company, etc.) whose estimated tax liability for the year (i.e., for the year in progress such as FY 2016-17, FY 2017-18, etc.) after TDS (i.e., TDS whic...
admin10 Jan 2019
Introduction of Tax Audit: The Finance Act, 1984 inserted section 44AB to introduce provisions related to tax audit in Income Tax Act, 1961 w.e.f 1st April 1985. As per this section, it is the obligation of every assessee having income / loss from business or professi...
admin14 Aug 2018
House Rent Allowance is one of the important components of salary. Particularly if you are living in a rented house and your salary income is taxable, House Rent Allowance can provide some tax relief for you. However, entire amount of HRA received cannot be claimed as...
admin10 Aug 2018
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