Comprehensive Guide on TDS on GST @ 2% (with Examples)

TDS @ 2% is required to be deducted on payment made to the supplier of taxable goods or services of both where the value of such supply under a contract exceeds Rs. 2.5 Lakhs. The provisions of TDS on GST...

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Rights of Daughter in Father’s property if he dies without Will

Daughter’s right in her parents property has always been debatable. Earlier, the law prohibited the daughters from inheriting the property of the parents. It was only the sons who were entitled to be a successor in their parents’ property. They...

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How is Home Loan EMI Calculated?

Home Loans have now become an integral part of our lives. The land rates have become so expensive that it is very difficult for any person to purchase real estate property without taking a home loan. Banks give Home Loans...

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How is Tax levied on Rent from Vacant Land?

Many a times people earn income by letting out their vacant land. It could be monthly rental income or a one time income by letting it out for an event or it could be any other way in which some...

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The new classification of MSME on the basis of Turnover

The classification of MSME for both goods and services organisation is done on the basis of the turnover and is as follows:- Classification Turnover Micro Enterprise Upto Rs. 5 Crores Small Enterprise Rs. 5 Crores to Rs. 75 Crores Medium...

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Tax on Guaranteed Income Plan

Guaranteed Income Plan is a type of savings plan cum insurance plan that promises guaranteed annual income after a fixed period. It is non-linked, non-participating endowment plan where the policyholder pays the premium until maturity and gets a regular payout...

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Difference between Savings Account and Current Account

The two most common bank accounts are savings account and current account. These two are the most widely used accounts, and often banks offer variety of features in these accounts. But seldom do people know the difference between the two...

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How I stay updated with the latest Tax Laws and you can too

The day I qualified my CA Exams, I was on 7th heaven and very confident that clients would soon start coming to engage me for my services and there would be a long cue of clients waiting in my office....

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5 Things to know about Home Construction Loans

Do you dream of owning a piece of land in a scenic part of the countryside? A land over which you can build your dream house to use as you want? You are not alone in dreaming this dream. Recognising...

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What is a child plan? How it works?

A child plan is a tailor-made investment cum insurance option to meet the financial needs of a child. In a child plan, there are two components– insurance and investment. The insurance component is designed to protect the child from unfortunate...

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