Cash Transactions limit under Income Tax Act 1961
The Income Tax Act of 1961, a comprehensive statute governing taxation in India, includes provisions aimed at regulating cash transactions …
income tax
TDS on Sale/Purchase of Property – Section 194IA
In India, the sale of property is subject to tax implications, including the requirement of Tax Deducted at Source (TDS) …
Section 194J- TDS on Fees for professional or technical services
Understanding Section 194J of the Income Tax Act (1961) Section 194J of the Income Tax Act, 1961, is a provision …
Section 194D- TDS on Insurance Commission
Insurance policies are a common investment among individuals in India, spanning health, term, and life insurance. These policies can be …
Section 194C – TDS on payment to Contractors
This is the most important Section under the whole TDS provisions, as this section is applied on most of the …
GST Compensation Cess
Goods and Services Tax (Compensation to States) Cess Act, 2017 1. Background: The Compensation Cess Act was enacted to address …
‘Finfluencers should not mislead public’
India’s markets regulator is faced with a Catch-22 situation as it rachets up efforts to increase the country’s financial awareness. …
Optimizing Tax Strategies for Employees
When an employer hires an individual, they specify the Cost to Company (C.T.C), indicating the yearly expenditure for that employee. …
TDS on Purchase of Goods Vs. TCS on Sale of Goods
TDS on Purchase u/s 194Q and TCS on Sale of Goods u/s 206C(1H) are most important sections under Income Tax …
TDS on Purchase of Goods – Section 194Q
TDS on Purchase (Section 194Q): Let’s Read the Law First: Deduction of tax at source on payment of certain sum …
