TDS on rent for business, professional, individual and HUF under section 194I
Prior to the launch of budget 2017, only specific categories of business and professionals were liable for the TDS on rent paid. Budget 2017 has announced that now salaried employees and other individuals paying rent of over Rs 50,000 per month would have to deduct 5%...Change of base year impact on Capital gains
In Budget 2017,Finance Minister Arun Jaitely has proposed to change the base year to calculate the indexation benefit from 1981 to 2001 in the budget. The change in the base year is across all asset classes but the impact would differ across assets that enjoy...How to cancel PAN If you have more than one PAN , Deactivation of PAN
One may have been allotted multiple PAN Numbers. Those who have more than one PAN should immediately apply for surrender of additional PAN numbers allotted to them as having more than one PAN may make them liable to a penalty of Rs. 10,000. Income Tax Department in...Income Tax Operation Clean Money,How to Check Cash Transactions 2016
In another step towards cleaning black economy, the govt has launched operation clean money campaign. Data mining exercise under Operation Clean Money will be undertaken in several phases over the next two years. Under Phase 1 of Operation Clean Money launched by the...How much should you invest to claim Maximum tax deduction under 80C?
We all want to save income tax legitimately on our hard earned money! But how much do you need to invest to save maximum income tax? The article helps to figure out how much of your Section 80C limit has been taken care of and how much you should invest to claim tax...Subscribe to All Our Posts
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