TDS, commonly known as Tax Deducted at Source, is an important concept of India’s tax collection system. It minimises tax evasion and guarantees a consistent annual flow of income from taxes. TDS, however, consists of two separate but related procedures: submitting TDS returns and making TDS payments. In this blog, let’s know in detail about each of them in detail
Read on to know all about Section 80IAC Act, the benefits and eligibility criteria to claim tax benefits under this section in detail. What is Section 80 IAC Act? The Section 80-IAC of the Income-tax Act,1961, was introduced on April 1, 2017 in India. According to this section, any startup making a profit is entitled to 100% tax deductions for
The government and the Income tax Act of India have permitted tax exemptions on donations made to any charitable organization under Section 80G in order to further this charitable cause. The purpose of this act is to provide tax advantages to people and businesses in exchange for their charitable contributions. Read on to know more about the section in detail!
In many countries like India, filing Tax Deducted at Source (TDS) returns is a mandatory part of running a business. However, many taxpayers file TDS forms incorrectly, which can result in consequences including fines, inquiry by tax officials. Read on to know how you can file the TDS returns by avoiding common mistakes. What is TDS (Tax Deducted at Source)?
Many people worry about the time of year when income taxes are due. The procedure for income tax filing may seem challenging, perplexing, or even terrifying. Additionally, a lot of tax return myths exist, which may make these emotions worse. In this blog, we aim to separate fact from fiction from some of the most common myths of tax filing
As the deadline for submitting income tax returns approaches, it’s important to make sure you don’t make some of the frequent errors that many taxpayers commit when submitting their forms. In this blog, we’ve compiled a few expert Income tax filing tips that will assist you avoid these mistakes in order to make sure the procedure runs successfully. Listed below