Annual Information Return (AIR)
What is Annual information return (AIR)? An Annual information return is to be filed by specified entities to the income tax authority for high-value financial transactions registered/recorded [...]
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Income Tax Saving Tips for FY 2020-21
Income Tax Return for FY 2019-20 As we know that less than one month is remaining to file an income tax return for FY 2019-20 but tax planning has already been started for the FY 2020-21. Due to [...]
Atal Pension Yojana (APY) Scheme
About Atal Pension Yojana Atal Pension Yojana (APY) which is formerly known as Swavalamban Yojana is Indian Government initiated pension scheme primarily targeted to the unorganised sector [...]
Form 67: Claim Foreign Tax Credit in India
What is a foreign tax credit? As you know, people residing in the home country (India) get several opportunities of job or work. Because of that, they have to travel often from India to foreign [...]
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 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 [...]
