Karan Batra

ITR-2

Who is required to file ITR? [Budget Amendments]

Amendment introduced in Budget 2019 In case of a person (other than company or firm) – ITR Filing in India is mandatory only if it is more than the minimum… Read more

TDS on Contractor

4 Sections for Deduction of TDS by Individuals – 194M, 194IB, 194IA, 195

As a general rule, TDS is only required to be deducted by those businesses/professionals whose books are audited under Section 44AB. However, to bring more people under the TDS net… Read more

tax-home-loan

Tax Benefit on Home Loan: Section 24, 80EEA & 80C [Full List]

A very important criterion to be kept in mind while taking a Home Loan is the Tax Benefit on Home Loan. To explain the Tax Benefit on Home Loan, we… Read more

How to Plan your Investments to meet your Financial Goals?

The first thing which every financial planner will tell you is to clearly specify your Financial Goals. Because till the time you don’t have financial goals – you will never… Read more

20 Changes announced in Budget 2019 by Finance Minister

The following are the major changes announced in Finance (No. 2) Bill 2019 announced by FM Nirmala Sitharaman on 05th July 2019 Tax Rate reduced to 25% to companies having… Read more

tax-on-rent-nri

Surcharge on Income Tax (with Examples)

Surcharge is levied on Income Tax and is levied if Income is more than Rs. 50 Lakhs in case of Individuals and Rs. 1 Crores in case of Companies. The… Read more

Revaluation-of-Marks

Income Tax Form 13 for Lower Deduction of TDS: Section 197

As per the provisions of the Income Tax Act, TDS/TCS is required to be deducted at the time of making any payment. This TDS is deducted by the person making… Read more

TDS on Contractor

TDS on Payment to Contractor under Section 194C (with Examples)

At the time of making any payment, TDS is required to be deducted by the person making the payment. The rate of TDS depends on the nature of payment made… Read more

Advance Tax Payment: Due Dates and Interest on Late Payment

If the Income Tax Liability of any taxpayer is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year… Read more

7 Important Points to check before Investing in Mutual Funds

Mutual funds have emerged as one of the most promising investment tool in the past couple of years. A lot of people have started investing in mutual funds through the… Read more

tax-on-sale-of-property

Equalisation Levy @ 6% on Digital Ads [Updated]

The Digital Space has grown very rapidly in the past few years and is expected to grow substantially in the next few years. The biggest beneficiaries of this rapid growth… Read more

Capital Gains Tax on sale of Bonus, Right & Split Shares (with examples)

At the time of sale of shares, Capital Gains Tax is levied depending on the nature of the capital gains. If the Capital Gains are Long Term in Nature, tax… Read more

How Revenue Deficit and Fiscal Deficit Impact the Economy?

The government of any country incurs a lot of expenditure for the welfare of its citizens and for the purpose of meeting this expenses, it collects a lot of money… Read more

All about Tax Saver Mutual Funds

Tax Saver Mutual Funds are those mutual funds which are eligible to deduction under Section 80C. And as investment in these funds can be claimed as a deduction under Section… Read more

How I corrected wrong details mentioned while paying Income Tax

One of my clients recently did a mistake of selecting the wrong assessment year while paying his Income Tax. And after incurring the mistake, he called me to inform that… Read more