A New announcement in Budget 2019 GST registered MSMEs can get 2% interest subvention from Government for incremental loans of Rs 1 crores under the MSME Credit Scheme. MSME stood for Micro, Small and Medium Enterprises.…
Seven Changes in Income Tax Laws come into effect from September 1 Generally Income tax related changes announced in the Budget usually come into effect from April 1. But in the FY 2019-20 budgets was…
The budget has been presented with a 10-year vision in mind. The startups are being given a whole set of tax benefits. -The budget is for a New India has a roadmap to transform the…
Most employees receive HRA as part of their salary. The intention is usually to meet cost of a rented accommodation that you may be living in. In case you pay rent, a portion of the…
Sale of a residential house is taxable under the Income Tax Act. When you sell a house, you are required to pay capital gain tax on the profit received from the sale. The Income Tax…
Q.1 Are monetary gifts received by an individual or Hindu Undivided Family (HUF) taxable? If the following conditions are satisfied then any sum of money received (i.e, monetary gift may be received in cash, cheque, draft, etc.)…
CBDT has vide Notification No. 32/2019-Income Tax Dated 01/04/2019 released Form Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V. This post provide links to download such ITR…
TDS – Rate Chart, Provisions, Penalty, Return Due Date Tax Deducted at Source (TDS) is one of the modes of collecting income tax in India at the very source of income, governed under the Indian Income Tax Act of 1961. It is…