Income Tax

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

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

The actual tax saved under 80C varies from Person to Person

While doing your tax saving exercise, you should always be aware of how much tax you are going to save from all your tax saving investments. And the first thing… Read more