Tax Updates
Form 10B in Excel Format What is Form 10B: Form 10B is an audit Report applicable on a fund or trust or institution or any university or other education institution or any hospital or other medical institution, under Section 10(23C) and Section 12A of the Income Tax Act, 1961 in India. Form 10B needs to …
Revised Form 3CD in Excel Format Form 3CD is issue by CBDT in accordance with Section 44AB of the Indian Income Tax Act 1961. According to Section 44AB, a person requires to file tax audit report if turnover from business is more than 1 Crore or turnover from Professional is more than 50 Lacs. However, …
TDS Rate for FY 2023-24 Section 192 – TDS on Salary Payment TDS Limit: As per Slab Rate TDS Rate: AS per Slab Rate Note: Employees shall choose an option between new tax slab regime and old tax slab regime. In case invalid Pan or no Pan then TDS rate shall be 30%. Section 192A …
TDS on Rent Payments What is Rent: For the purpose of section 194-I, Rent is any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of following assets. It does not matter whether following assets used separately or together. Whether or not any or all …
Caro 2020 applicability Ministry of corporate affairs notify CARO 2020 through order F.No. 17/45/2015-CL-V Part 1 dated 25th February 2020. Companies Auditor’s Report Order (CARO), 2020 is applicable from financial year 2021-22. Para 1 of CARO 2020– Caro 2020 applicability: CARO 2020 is applicable to every company including a foreign company. However, the order is …
What is TDS Return: – TDS (Tax deducted at source) return is a summary of TDS transaction made during a quarter. TDS return is a quarterly statement which is submitted by the tax deductor to the Income tax department. TDS return contain all entries for the Tax deduction by deductor and TDS paid by the …
Statement of Financial Transactions: The income tax law has introduced the concept of Statement of financial transactions (SFT) to check high value transaction undertaken by the taxpayers. As per section 285BA of Income Tax Act, specified persons are required to furnish SFT or reportable account in respect for specified financial transaction. Person required to file …
TDS Rate for FY 2022-23 Section 192 – TDS on Salary Payment TDS Limit: As per Slab Rate TDS Rate: AS per Slab Rate Note: Employees shall choose an option between new tax slab regime and old tax slab regime. In case invalid Pan or no Pan then TDS rate shall be 30%. Section 192A …
Bitcoins Taxability in India Hi Reader, in this Article we discussed about Bitcoins Taxability in India i.e. how to pay tax on Bitcoins transaction in India. Before we start let’s understand the basis concept about Bitcoins. Bitcoins – Bitcoins is virtual currency and considered more secure than real money. Bitcoins was the first ever crypto …
TDS on Purchase of Goods 194Q:- The Finance Bill 2021 has introduced a new provision Section 194Q in Income Tax Act. According to provision 194Q, TDS has to be deducted in case of purchase of goods. For more information on Section 194Q and its implications on buyers and sellers please read below full article on …