Revised Return of Income Tax can be filed by an assessee any time before the expiry of the Relevant Assessment Year or before the completion of assessment (whichever is earlier). In simple words, in case you have filed your Income...
Revised Return of Income Tax can be filed by an assessee any time before the expiry of the Relevant Assessment Year or before the completion of assessment (whichever is earlier). In simple words, in case you have filed your Income...
As per Section 195 of the Income Tax Act 1961, every person liable for making a payment to non-residents shall deduct TDS from the payments made or credits given to non-residents at the rates in force. The Reserve Bank of...
Form 12B is required to be furnished as per Rule 26A by a person joining any organisation in the middle of the year and is a form for furnishing the details of income earned from the previous employer. It is...
Form 16A is a TDS Certificate certifying the amount of TDS deducted, Nature of Payments & the TDS Payments deposited with the Income Tax Department. As per the Income Tax Act, TDS is liable to be deducted on all other...
TAN Number is a 10 Digit Alphanumeric Number and is used as an abbreviation for Tax Deduction and Collection Account Number. Every Assessee liable to deduct TDS is required to apply for a TAN No. and shall quote this number...
TDS Payment is liable to be made by any assesse who has deducted TDS at the time of incurring any expenditure. The Due Date for TDS Payment is separate for Govt. and Non-Govt. assessee’s as mentioned below Due Date for...
Form 26AS is a Consolidated Tax Credit statement issued to a Taxpayer and shows the Income Tax that has been deposited with the Govt with respect to that Taxpayer and is required to be issued under Section 203AA of the...
The Provisions of Transfer Pricing have been introduced to ensure that income arising from an International Transaction between Associated Enterprises shall be computed having regard to the Arm’s Length Price. Any cost or expense allocated or apportioned between two or...
In the previous article I explained about the concept of taxation of expatriates. (Refer article – Taxation of Expats in India) Now I with explain with an example how to compute the tax liability for an expatriate. Taxation of expatriate...
An Expatriate or expat is a person residing in a country, temporarily or permanently, which is different from his/her home country or you could say different from a country in which he/she is a citizen. This term is broadly used...