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How to Avoid Heavy Penalties by Filing TDS Returns on Time
As a business owner, it is essential to file your TDS returns on time to avoid heavy penalties and fees. Failing to file the TDS return can result in unwanted notices and demands from the income tax department, forcing you to pay hefty fines and fees. In this article, we will provide you with an…
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Deadline to File Updated Income Tax Return for AY 2020-21 is 31st March 2023
The Income Tax Return (ITR) for Assessment Year (AY) 2020-21 was required to be filed […]
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Section 206AB of the Income tax ACT
The purpose of this article is to provide an overview of Section 206AB of the Income Tax Act and its implications for taxpayers in India. The article will explain what Section 206AB is, who is subject to it, and how to comply with its provisions. It will also cover recent changes to the section, how…
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Failed to file TDS return, still you can avoid penalties, read here how!
No penalty will be levied under section 271H for the failure to file the TDS/TCS return, if the person proves that after paying tax deducted/collected by him, along with the latefiling fee and interest (if any), to the credit of the Central Government, he had filed the TDS/TCS return before the expiry of a period…
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8 Highlights of Budget 2023 that are of common man’s interest
Highlights of Budget 2023 for common man
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Thinking of buying property? Read this
According to the Income Tax Act, if you are buying immovable property other than agricultural land, and amount to be paid is more than Rs.50 lakh, then you have to deduct 1% TDS
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While Accepting Gift Items …………..
While filing the income tax return, some amount was found deposited in Dinesh’s bank account. […]
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Why file an Income Tax Return?
Ajay’s total salary was not subject to income tax, so he was comfortable with the […]
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Are you fully deductible from your investment income under Section 80C of the Income Tax Act for tax deduction?
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Recent Posts
- Last chance to correct old TDS returns before 31st March 2026.
- Only in Goa: ₹24 Lakhs Income… and Still Zero Tax? Here’s How.There’s a powerful tax advantage available only to Goan married couples — thanks to Section 5A of the Income-tax Act, 1961.Under Goa’s community of property system, income (other than salary) earned by a married person is automatically split 50:50 between spouses.Example:Husband earns ₹24 lakhs business income.Spouse is a homemaker.1. Income gets divided: ₹12 lakhs each.2. Tax computed separately in both hands.If structured correctly under the applicable tax regime, this can significantly reduce — and in certain cases eliminate — tax liability& due to separate slab benefits and rebate eligibility.In simple words:A homemaker in Goa can become the biggest tax planner in the family.A unique provision.#Goa #Section5A #IncomeTax #TaxPlanning #CharteredAccountant
- OCI card holder and participation in Indian business — a regulatory perspective…
- A forgotten foreign bank account can lead to a penalty of ₹10 lakh per year.
- Why Budget 2026 Replaced TAN with PAN for TDS on NRI Property Sales
