General
Corporate Income Tax Planning in Bangalore
Corporate income tax planning in Bangalore, or any other location, involves strategic financial management to optimize a company's tax liability within the legal framework. Here are some general guidelines for corporate income tax planning that ...
Income Tax Consultation in Bangalore
income tax consultation in Bangalore, where expert guidance meets the unique tax landscape of this vibrant city. Bangalore, known as India's Silicon Valley, boasts a dynamic economy filled with diverse income streams and innovative ventures. ...
Tax Treatment of Foreign Exchange Gains and Losses in Bangalore
In today's globalized economy, businesses and individuals often engage in international transactions, leading to exposure to foreign exchange fluctuations. In Bangalore, a prominent hub for businesses in India, understanding the tax treatment of ...
Tax Compliance for Educational Institutions in Bangalore
Educational institutions play a vital role in shaping the future, but behind the scenes, they must navigate a complex landscape of tax regulations to ensure smooth operations. In Bangalore, India, these institutions are subject to various tax ...
Income Tax High-Value Transactions: Submit Response Under e-Campaign (Compliance Portal)
The income tax department uses various data analysis techniques to trace individuals who have not filed income tax returns or have underreported their income. As part of this effort, the department is collaborating with different government agencies ...
TDS Rate Charts for the FY 2023-24 Onwards
TDS stands for Tax Deducted at Source. Tax deduction at source (TDS) means collecting tax on income in the form of salary, rent, asset sales, dividends, etc., by requiring the payer to collect income tax due on such income while crediting/paying to ...
Avoid the 20 Percent TCS on Overseas Tour Packages
Prepare to allocate more funds for your upcoming foreign vacation starting next month. Commencing on July 1, 2023, an increased tax collected at source (TCS) rate of 20% will apply to overseas tour packages. Currently, when booking a foreign tour ...
Home Loan Benefits
Home Loan Benefits in Tax A home loan comes with several benefits related to taxes, which can significantly reduce the financial burden of owning a property. These benefits vary by country, so I'll provide a general overview of the common tax ...
Company Tax Return for Listed Companies in India
Company tax return for listed companies in India Filing a company tax return for listed companies in India involves specific steps and considerations, as these companies are subject to additional regulations and reporting requirements due to their ...
Best Electronic Payment Systems in India
Electronic Payment Systems, also known as digital payment systems or electronic funds transfer (EFT) systems, are platforms that enable individuals, businesses, and organizations to make and receive payments electronically. These systems have ...
Best Financial Analysis and Modelling Tools
Financial analysis and modeling tools are essential for businesses, investors, and financial professionals to analyze data, make informed decisions, and create financial models that can help with forecasting and planning. Here are some popular ...
Best TDS Software for CAs & Professionals in India
The thing which needs efficiency, precision and adherence to the laws of Tax Governance is called dealing with Tax Deducted at Source (TDS). TDS opposite on specific incomes required complete estimation and authenticity, indifference may point to ...
Best Income Tax Software for Tax Filing in India
In the current era, people need ready data to execute their chores easier and in less time. Work in distinct companies is executed through distinct capable software. On the other side, Chartered accountants are also working with the help of income ...
How To Compute Actual Allowable HRA Deduction in Salary
If you're a salaried individual, you can claim House Rent Allowance (HRA) to meet your rented accommodation-related expenses. Salaried individuals who live in a rented house can claim this exemption and bring down their taxes.HRA can be fully or ...
Tax Implications on Sale of Unlisted Equity Shares
Extract from Income Tax Act Insertion of new Chapter XII-DA. 31. After Chapter XII-D of the Income-tax Act, the following Chapter shall be inserted with effect from the 1st day of June, 2013, namely:— 'CHAPTER XII-DA SPECIAL PROVISIONS RELATING TO ...
Types of Form 16 in India
Form 16, Form 16A and Form 16B are all certificates of tax deducted at source on your income from different sources. All three of them vary in terms of purpose, eligibility, and where they are applicable. Form 16: The TDS Certificate for your Salary ...
Income Tax Filing For Tax Planning In India
What is Tax Planning? Taxes can eat into your annual earnings. To counter this, tax planning is a legitimate way of reducing your tax liabilities in any given financial year. It helps you utilise the tax exemptions, deductions, and benefits offered ...
Income Tax Saving Tips in India
In order to know that how much you can actually save on taxes it is important to understand the slabs. Based on the annual income of an individual, the tax payers are categorized in income tax slab. So, if you are really looking for a way to save on ...
Income Tax Filing For Business Owners In India
As a business owner in India, you are required to file an income tax return (ITR) every year. The ITR is a document that declares your income and expenses for the financial year. It is used by the government to calculate your tax liability and assess ...
Income tax filing for senior citizens in India
The Indian Income Tax Act gives certain tax benefits to Senior Citizens and also tries to ensure that income tax e-filing is a hassle free process. The complete list of all the tax benefits available to senior citizens is compiled in this article. ...
Corporate Taxation & Compliances
1. TAXABLE PERIOD In India, the tax year begins on 1 April and ends on 31 March. 2. TAX RETURNS Accounts for tax purposes must be made up to 31 March. For persons having business/professional income, the income tax return is required to be filed ...
TDS (Tax Deducted at Source) return filing in India
Full form of TDS is Tax Deducted at Source. You may have experienced TDS in many forms - Bank FDs, salary payments to vendor payments, and TDS seem to infiltrate everywhere. Normally, TDS means an advance tax withheld by the payor from your income, ...
Maximize Your Tax Refunds: Essential Tips for Income Tax Return Filing
Introduction: Filing your income tax return is a crucial annual task that can significantly impact your financial well-being. While it may seem like a daunting process, being well-informed and employing smart strategies can help you maximize your tax ...
How to file income tax return in India
Filing income tax returns is a crucial responsibility for every taxpayer in India. It helps ensure compliance with the tax laws and facilitates the assessment of an individual's tax liability. This article aims to provide a step-by-step guide on how ...
Compliance with Income Tax Act in India
Compliance with Income Tax Act in India Compliance with the Income Tax Act in India involves adhering to various provisions, rules, and regulations related to income tax payments, deductions, filing of tax returns, and maintaining proper records. ...
Tax Audit In India
The term ‘audit’ refers to a check, review, verification or inspection of a record, transaction, account etc. A tax audit is the process of verification and inspection of the accounts of a taxpayer to confirm their adherence to the provisions of the ...
Charitable Trusts and NGO – Income tax benefits
Charitable Trusts and NGO – Income Tax Benefits Did you know charitable deeds and compassion can help you save tax? Section 80G of the Indian Income tax Act provides provisions for that. As per 80G, you can deduct your donations to Central and State ...
How to File ITR Form 6 Online for Companies
Income Tax Return Form 6 Companies other than companies claiming exemption under section 11 must furnish their income tax return in ITR-6 Form. Budget 2021 update :Taxpayers need to pay advance tax on dividend income only after the declaration or ...
How to file Income Tax Return Form 5 Online
Income Tax Return Form 5 This income tax return is meant for firms, LLPs, AOPs (Association of persons) and BOIs (Body of Individuals), Artificial Juridical Person (AJP), Estate of deceased, Estate of insolvent, Business trust and investment fund Who ...
Income Tax Deduction Under Section 80D
What is Section 80D A person can claim a deduction for the health insurance premium and expense incurred towards preventive health checkup for self, spouse, dependent children and parents. This is-subject to the terms and conditions mentioned in the ...
TDS on Salary
TDS on Salary under Section 192 Section 192 of the Income Tax Act, 1961 deals with tax deducted at source (TDS) on salary. Your employer will deduct TDS from the salary payable to you. The salary you receive from your employer is categorised in ...
Steps to Pay Income Tax Online
Pay Income Tax Online The Process of tax payment has become easier as it can be made online now. Visit the official website in order to make your income tax payment online. First, choose Challan 280, then enter your personal information, review the ...
How To Pay Income Tax Online
Pay Income Tax Online The Process of tax payment has become easier as it can be made online now. Visit the official website in order to make your income tax payment online. First, choose Challan 280, then enter your personal information, review the ...
ITR Login - How to File Income Tax Return
ITR Login - How to File Income Tax Return The Process to file Income Tax Returns (ITR) by using the internet is called E-filing. The process to e-file ITR is quick, easy, and can be completed from the comfort of an individual's home or office. ...
Income Tax Refund Status
The Income Tax Department offers an online facility for tracking your Income Tax Refund and its status. Taxpayers can view the status of refund 10 days after their refund has been sent. It is important to know the PAN and assessment year in order to ...
Online Income Tax Return Filing India
An income tax return is a form that enables a taxpayer to declare his income, expenses, tax deductions, investments, taxes, etc. The Income Tax Act, of 1961 makes it mandatory under various scenarios for a taxpayer to file an income tax return. An ...
How to check income tax refund status
You require to ensure that you filed the right details of the bank account during filing your return of income tax. A person can check the status of the refund of income tax online through two methods. On the official website of Income Tax India ...
TDS or Withholding Tax on Youtube Income
Google May Withhold Taxes From Non-US YouTube Creator Google will soon be required to withhold taxes on YouTube earnings generated from viewers in the United States. This change is going into effect as early as June. How much tax is withheld from ...
How To File Your Partnership Firm Income Tax Return
How To File Your Partnership Firm Income Tax Return What is the tax rate for a partnership firm? A partnership firm is required to file a partnership firm income tax return under the Income Tax Act,1961. Partnership firms are liable to pay income tax ...
Income Tax Filing for Proprietorship Firms
How to File Income Tax Return for Proprietorship Firms Any individual who has business income is said to be operating a proprietorship firm. Proprietorships operating in India are required to file income tax return each year. Since proprietorships ...
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