Section 194LBB of the Income Tax Act, 1961 has been inserted with effect from 1st June 2015 on TDS deduction on Income from Investment Funds. Time of Deduction: Deduction shall be… Read more »
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of these FVUs are summarized as under: FVU Version 8.3… Read more »
Section 193 – TDS shall be deducted on interest paid on securities by the interest payer Time of Deduction- TDS to be deducted at the time of credit or payment,… Read more »
The government of India has been implementing measures to curb tax evasion and increase tax compliance by streamlining the tax collection processes. One of those measures is to impose high… Read more »
What is a tax credit? If tax has been deducted at the source (TDS) and the same deposited with the government, it would be treated as a tax paid on… Read more »
Income like rent on house property, annual value of property “deemed” to be let out are considered as income from House Property and is taxable in hands the hand of… Read more »