Tax on Salary – Popular Exemptions & Deductions
Salaried employees form the major chunk of the overall taxpayers in the country and the contribution they make to the tax collection is quite significant. Here we shall cover major… Read more »
Extension of TDS Filing Date for Form 26Q (Q2 – FY:22-23)
A few new TDS sections were introduced with effect from 01/07/2022. These included TDS on Transfer of Virtual Digital Assets (sec. 194S), TDS on Perquisites of Business or Profession (sec…. Read more »
Computation of Income from House Property- Deduction of Interest u/s 24(b)
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 »
TDS in case of Salary Payment made in Foreign Currency
As per Section 192 of the Income Tax Act, “any person responsible for paying any amount under the head salaries is required to deduct tax at source at the time… Read more »
Online TDS / TCS / Demand Payment using Challan ITNS 281
Challan no. ITNS 281 is used by deductors to deposit TDS, TCS and demand payment. Following details are necessary to fill while payment of Challan ITNS 281: 1. Tax Applicable… Read more »
Compliance Check for Section 206AB & 206CCA – CBDT Circular
To ease the compliance burden, CBDT (Central Board of Direct Taxes) vide Circular No. 11 of 2021 dated 21st June 2021, has announced a new functionality that will help Tax… Read more »