Section 194 BB Winning from Horse Race 30% limit 10000
In the Finance Act 1978,a new section was inserted after Section 194 B,Which aims Tax deduction from winning from Horse race. Any person, who is a bookmaker or holding a license of horse racing in any race course or for arranging for wagering or betting in any race course and is paying to any person by… (0 comment)

How To Make TDS Payment Online?
Tax Deducted at Source should be deposited to the government on or before the time limit declared by the Income tax department. Late payment cost you interest and penalty. Usually TDS Collected shall be be deposited on or before 7th of subsequent month. TDS Payment Due date chart In this post let’s discuss how to… (1 comment)

TDS Payment Due Dates for Govt: & Non Govt Assessees
The person who is liable to deduct TDS shall be deposited to the government on time. Timely payment ensure the statutory complaints and avoid penalties and fine .Here is the TDS payment chart for both Govt assesses and non Govt: Assesses. Important Points to be Noted for TDS Payment All sum deducted without treasury challan… (0 comment)

Due date for filing tds return FY 2016-17
As you know Late filing of TDS return attract Late filing fee, Interest and penalty. So let’s do it in time so as to avoid such extra burdens. Here is the list of due date of filing TDS return. Govt has brought uniformity in filing TDS return for all types of Detectors from FY 2016-17.… (0 comment)

TDS Rate Chart for FY 2018-19
Here is the Latest TDS Rate chart applicable for the Financial Year (FY) 2018-19 or for the assessment year (AY) 2019-20. The rate is after considering the changes in Budget of 2018. Please read with the following points along with the TDS rate chart of  each section mentioned. Section 192 A : In case withdrawal of… (1 comment)

Transporters Income assumed to be 7500/ Month/Vehicle Under Section 44AE
Section 44AD of Income tax act gives some benefit to small tax payers with regards to maintaining of books of account, by assuming their Income. Read:  Presumptive Tax Payment for Individuals, HUF  Section 44AE also deals with Presumptive taxation of transporters or as per rule,”assessee engaged in the business of plying, hiring or leasing such goods carriages”.… (3 comments)

Presumptive taxation scheme Section 44AD of Income Tax Act
What is Presumptive tax? Presumptive taxation is a new type of taxation introduced by the Income tax department Under section 44AD & 44AE , for giving some helping hand to small tax payers for eleminating or reducing expensive book keeping process. What is mandatory for an assessee who adopt presumptive taxation shall declare income at… (0 comment)

Income Tax rate FY  2016-17& AY 2017-18
In the 2016 Budget, There has been no changes in the Income tax rate of FY 2015-15, The same rate will continue to follow in the Current Financial Year 2016-17 also. In the recent past Income tax rule has categorised tax payers like, Senior Citizen, Male Below 60 Years, Female below 60 years, Super Senior… (0 comment)