ITR Filing is a crucial task for every taxpayer in India. Doing ITR Filing means you are complying with tax laws in India. And, as a result, you get lots of benefits. However, you have to face certain challenges also. In this article, will understand both advantages and disadvantages of Income Tax Return Filing, specifically … Read more
For those who love to travel, managing money when earning in India as a Non-Resident Indian (NRI) can be both fun and tough. It’s important to understand TDS according to Section 195 of the Income Tax Act. This helps with following tax rules for transactions across borders. If you’re an NRI, you can look into … Read more
It is mandatory for a buyer to deduct TDS when he or she buys an immovable property of cost more than Rs. 50 Lakhs in India. Immovable property means a building or part of a building or any land other than agricultural land. Section 194-IA of the Income Tax Act from 1st June 2013 mandates … Read more
The Central Board of Direct Taxes (CBDT) has just given more time for people to submit certain statements related to TDS/TCS (Tax Deducted at Source/Tax Collected at Source). They made this decision in Circular 9/2023 dated June 28, 2023, to help taxpayers and make it easier to follow the rules. TDS/TCS Statement Filing Deadline Extended … Read more
Good news for online gaming enthusiasts and gaming operators. There will now be no TDS(Tax Deducted at Source) on your wins. And for game operators, you won’t have to do compliances for such winnings. Let’s read this news in detail for better clarity. Income Tax Department Clarifies TDS Rules for Online Gaming Platforms The Income … Read more
In case of failure to deduct TDS as mandated by the statutory provisions of the Income Tax Act, an individual may incur interest and penalty charges. This article covers the relevant Defaults and Penalties in TDS Payments & TDS Return filing. Understanding the consequences of TDS defaults is crucial for you, as it helps in … Read more
Facebook Ads, also known as Meta Ads, is a popular advertising platform that lets companies and individuals market their products and services to a vast number of internet users. Facebook charges advertising fees which you can pay from Facebook Ads Account through various payment modes such as credit or debit card, Netbanking, Paytm Wallet, Facebook … Read more
Google Ads is a prominent advertising platform that allows businesses and individuals to promote their products and services to a large number of people who are searching the internet. Google Ads operates as a business in India charging advertising fees for showing ads at top of google search results. Google charges payment on an automatic … Read more
The CBDT has extended the deadline for filing the TDS Return/ Statement in Revised/ Updated Form 26Q, related to non-salary deductions of tax at source, for the fiscal year 2022-23’s second quarter (Q2) (July-September 2022). The latest updates to TDS Return Filing Form 26Q due date extension are discussed in this article. What is TDS … Read more
Cryptocurrencies as a digital asset are becoming popular every day in India. Till now, the government has not made cryptocurrencies legal. However, various tax rules and regulations have been made. This article will guide you all the latest updates about TDS and Income Tax on Crypto and Virtual Assets. What is Cryptocurrency? Cryptocurrency is the … Read more