What is TDS and its applicability? Tax Deducted at Source (TDS) is the tax deducted at the time of making specified payments such as rent, commission, interest, etc. All the provisions related to TDS are specified under the Income Tax Act, 1961. In the TDS mechanism, a person (known as deductor) is liable to make […]
Permanent account number (PAN Card) is one of the essential documents for banking transactions and serves as an identity proof. Therefore, it is always recommended to keep your PAN Card updated and ensure that all the PAN Card details are correct. In case there is any mistake in your PAN Card, and you are looking […]
From June 2013, it is mandatory to deduct TDS on transfer of immovable property and generating TDS certificate in Form 16B. Here in this article, we will share the complete step by step guide on making TDS payment under section 194-IA, generating Form 26QB and Form 16B and their due dates. Section 194-IA Section 194-IA […]
The online banking system has made our life more comfortable. Now, we don’t have to wait in queues for a longer time. Although you can operate every bank transaction from your online banking such as opening an account, transferring funds, making payments, apply for loans, or opening the deposit accounts. Similarly, NEFT is one of […]
Newly enterprises are still in confusion in between the Udyog Aadhar and medium, small or micro-enterprise (MSME). To provide benefits such as trouble-free access to finance and to promote ease of doing business, Udyog Aadhaar was introduced by the Ministry of MSME. In this article, we are going to explain everything about the Udyog Aadhar […]
The Income-tax act provides various exemptions and allowance benefits to salaried individuals. Leave travel concession (LTC)/Leave travel allowance (LTA) is one of the allowances that become the component of the salary of the employee. LTC is provided by the employer to employees to meet the travel expenses when the employee is on leave from work. […]