Form 67: Claim Foreign Tax Credit in India
What is a foreign tax credit? As you know that people residing in the home country (India) get wider opportunities of job or work and because of that they have to travel oftenfrom India to [...]
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How businesses can recover after COVID-19?
No one ever thought of a pandemic like Covid-19 that not only shaken the world and its economy but also shut down operations all over the world. Since December 2019, countries are dealing with this [...]
Section 194IC of Income Tax Act: TDS on Payment under Joint Development
What is Section 194IC of the Income Tax Act Any person who is paying rent to a land owner (owner of land or building or both) under the joint development agreement needs to deduct TDS under section [...]
Section 194IA of Income Tax Act: TDS on Property Purchase of Immovable Property
Section 194IA of the income tax act As per section 194IA of the income tax act, it is mandatory for a buyer of immovable property (except building or part of building or other than agricultural land) [...]
Section 194IB of Income Tax Act: TDS on Rent paid by Individuals or HUF
What is Section 194IB of the income tax act? As per section 194IB of the income tax act, it is mandatory for individuals/HUF’s who are not liable for audit under section 44AB must pay TDS on rent [...]
Section 80U: Income Tax Deduction for Disabled Individuals
Section 80U of Income Tax Act Under income tax act, various tax benefits are offered to individuals or their dependents who are suffering from certain disabilities. As per section 80U of the income [...]
Section 80CCD: Deduction for NPS Contribution
Section 80CCD of Income Tax Act An individual can claim deduction on his or her contribution towards National pension scheme (NPS) or Atal Pension Yojna (APY) under section 80CCD of the income tax [...]
Section 80CCC: Deduction for Insurance Premium Paid
Section 80CCC of Income Tax Act An individual can claim tax deduction on his or her contribution towards certain pension funds under section 80CCC of the income tax act, 1961. The amount which [...]
Form 15G and 15H to Save TDS on Interest Income
What is Form 15G & Form 15H? Form 15G & Form 15H are the forms which are submitted to banks by the individuals in order to prevent themselves from tax deduction on the interest income earned in a [...]
Section 80RRB: Tax Saving on Royalty Income on Patent
Section 80RRB of Income Tax Act Section 80RRB is introduced by the income tax department for individuals to claim deduction on the royalty of their patents. It is basically done to encourage [...]
