As per Section 194A of the Income Tax Act, 1961, all banks and financial institutions have been mandatorily instructed to deduct TDS on all interest payments exceeding Rs.10000 in any financial year. Thus whenever any customer receives interest more than Rs.10000 from the Bank, then bank have to deduct TDS@ 10% on such Interest Income. […]
Beginning of New year everybody think to plan their investments to save the tax By means of this article, I aim at helping in the same by offering an insight into the benefits of investing in Tax implications of investing in mutual funds.It is a financial product that pools money of different individuals and invests […]
You can generally seek a first time housing loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going for a second house. Please remember to seek specific clarifications on the above-mentioned issues from your commercial bank.
State Government cannot levy the tax on inter-State Transactions however all such transaction are administered by the State Government that’s why provisions relating to State’s VAT in many situations are applicable even in such transactions.
The festival of Christmas is being celebrated all over the world very joyfully. In this festival Santa Clause make exchange of gifts to all. Children enjoy the festival very joyfully. All religion teaches same spiritual thoughts. All people should live and let others live happily and peacefully. To teach good thoughts is the only […]
Inter-State Vs Intra State -Sale/Purchase Registered dealers are eligible for certain concession or exemption of tax on inter-State transactions Under the Central Sales Tax Act, 1956 (in short CST), if dealer is able to comply with certain conditions. By Submission of statutory forms like Form C, F, H, I, E-I or E-II etc. However before […]
If Internal Audit report is carried out fairly it becomes very crucial document for Statutory Auditors, The statutory auditor may use internal audit report in a meaningful manner and can perform his duties in a better way. Which can help to perform Statutory Auditor’s while performing their Final Audit. Internal Audit report is a very […]