Before filing of TDS Statement pay late filing fee also Your attention is hereby drawn towards the provisions of section 234E of the Act, which reads as follows: Levy for Late filing of TDS Statement (Section 234E of Income Tax Act) 1) Without prejudice to the provisions of the Act, where a person fails to […]
ITR Forms with new features-Java based New ITR Forms utilities has been developed by income tax department by using the latest JAVA technology and effort has been made to make it user friendly, simpler and faster preparation/submission of tax returns.
Tax Implication on Sale of Residential Property The first concern which will make house in the mind of the seller is what amount of tax will he have to pay on such sale, how he can avoid tax on such sale. Under the The Income Tax Act, 1961 income arising on the Sale of Residential […]
Fiscal deficit means the government’s total expenditure (excluding the money it’s borrowed) exceeds its revenue. Expenditure on money’s borrowed by government does not considered in fiscal deficit rather it forms part of budget deficit. Budget deficit is normally known as national debt. A country’s fiscal deficit is usually calculated as a percentage of its gross […]
Constitution and Taxation of India By replacing the Government of India Act (1935) The Constitution of India came into force on 26 January 1950. Constitution is the soul of every country. Indian Constitution is the Constitution of the people, by the people, for the people and hence every Indian feels proud to follow it and […]