Sources of tax deduction can be claim while calculation of total income Tax deductions are the claims made to reduce your actual taxable income. It arises essentially from diverse investments and fees incurred with the aid of the taxpayer. It relies upon to your investments that how a whole lot quantity of tax you may […]
Tag Archives: Tds Deduction
While filing Income Tax Returns NRIs need to know these things Income earned by NRI from abroad is not taxable within India.Some NRIs also have an earning in their motherland country, India in the form of interest from deposits, House property , etc. This income has a basic limit of exemption, which is Rupees Two […]
TCS on Cash Sale – Notification Amendment in section 206C of the Income Tax Act vide Finance Act 2016 -Clarification regarding In order to curb the cash economy, Finance Act 2016 has amended section 206C of the Income-tax Act to provide that the seller shall collect tax at the rate of one per cent from […]
Why you need TDS certificates when Form 26AS provides all information One can gather all information related to TDS in Form 26AS which is sufficient to file one’s return. This might make you doubt the importance of TDS certificates but the rationale behind introducing Form 26AS is to enable the taxpayer to cross check the […]
Due Date for downloading TDS certificates from Traces It is mandatory for all deductors to issue TDS certificates after generating and downloading the same from “TDS Reconciliation Analysis and Correction Enabling System” or (https://www.tdscpc.gov.in) (hereinafter called TRACES Portal).