Definition of Residential Real Estate : Residential Real Estate property means where the commercial property related carpet area is not more then 15% of total carpet area of the Property. Before moving to the rates of GST in case of Sales or Transfer of Property, I want to highlight two …
When it’s tax time, people who earn salaries get a bit stressed about the money they have to give to the government for the past year. It’s important to know your salary details to figure out how to pay less tax. If you find your pay slip confusing, don’t worry—this …
Tax deducted at source (TDS) – Non RESIDENT TDS RATES Non- resident /foreign company/ FII/Qualified foreign investor related TDS sections: Section 195: TDS on Non-Resident Payments Any person responsible for paying to a non-resident or foreign company shall – deduct income tax thereon at the rates in force. Nature of …
Are you struggling to navigate the complexities of GST Annual Return? Do you have burning questions about compliance, reporting, or any GST-related challenges? 📅 Save the Date: 21-12-2023 (6:00 PM – 7:30 PM) 🖥️ Virtual Venue: YouTube Live 🚀 What to Expect: ✨ Comprehensive Insights: Gain a deep understanding of …
GSTN is introducing two-factor authentication (2FA) for taxpayers to strengthen the login security in GST portal. The pilot rollout has been done for a state of Haryana and working seamlessly. Currently, 2FA will be rolled out for Punjab, Chandigarh, Uttarakhand, Rajasthan and Delhi in 1st phase. In 2nd phase, it …
In our previous newsletter, we delved into the intricacies of income tax. Now, let’s explore a specific aspect – income from house property. Budget 2023 proposes a change in the calculation of the cost of acquisition for residential properties. It suggests excluding home loan interest claimed as an income-tax deduction …
Miscellaneous TDS Provisions: 193: TDS on interest on securities Securities u/s 2(28B) of income tax act, 1961 which means securities of the central or a state government and debentures/other securities issued by or on behalf of a local authority/a company/a co-operative society established by Central or State or Provincial Act. …
Tax Deducted at Source (TDS) TDS Section which applicable for all individual/HUF or any other person whether income from salary/capital gain or any other head i.e. even other than business/profession income 194IA: TDS on purchase of immovable property like plot Any person (other than Government when compensation/enhanced compensation in compulsory …
In the previous newsletter, we discussed what income tax is and explored key terms used in income tax. Now, let’s delve into Income Tax Return (ITR). ITR is a form that individuals are required to submit to the Income Tax Department of India. It includes information about the person’s income …
In my previous blog Improvements in Processes and be competitive, we discussed briefly about improving the processes. In the course of improving the processes, we take up the challenge of solving a complex problem or a much needed innovation in the process/product. At shop floor (manufacturing/service environment such as bank …
