Category: Income Tax

Tax Benefit on Home Loan: Section 24, 80EEA & 80C

The repayment of Home Loan comprises of 2 components i.e. Repayment of Principal and Repayment of Interest. As the repayment comprises of 2 different components, the tax benefit on home loan is governed by different sections of the Income Tax Act...

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post-NRI TDS Certificate – Should NRI opt for it? (Practical Analysis)
NRI TDS Certificate – Should NRI opt for it? (Practical Analysis)

Whenever an NRI receives any payment, TDS is required to be deducted on such payments. The person who is making the payment to the NRI deducts some amount (technically called as TDS) and makes the balance payment to the NRI....

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Tax on Income from KBC, TV Shows and Online Gaming

The fact that people can earn money by participating in Game Shows has been a crowd puller in India for the past many years. It started with KBC where the contestants had the opportunity to win a lot of money...

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Tax Deduction for Interest paid on Car Loan

The Interest paid on some types of Loans is allowed to be claimed as an Expense under the Income Tax Act. However, all types of interests are not allowed to be claimed as an expense. The most common reasons for...

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TDS and GST on Advertisement through Google Adwords

GST @ 18% is levied and TDS @ 2% is deductible on the Google Adwords advertisement expense. It is important to note here that some publishers are advertising through the Google entity which is registered in India and some advertisers...

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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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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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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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TDS & Tax Refund for NRIs (Simplified)

The Indian Tax Laws are very harsh when it comes to NRI’s. Any payment made to NRI is required to be made after deduction of TDS even if his income is less than Rs. 2.5 Lakhs (i.e. in the 0%...

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This is how I (Karan Batra) got initial clients for my Tax Consultancy Business

A lot of young entrepreneurs reach out to me for guidance on how to get new clients. Although, I’m no expert in getting clients – but most of them are still interested in knowing what worked for me and what...

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