There are many types of Forms given in Income Tax Act, which are practically difficult to recognize. However in actual life, it is greatly used for various compliance purposes. So for better grasp of knowledge at on one place, IContinue reading… #Learn Taxation: Compiled List of various Forms as given in Income Tax Act, 1961
TDS(Tax Deducted At Source) is the tax deducted by deductor before paying any amount to deductee. It is a kind of Advance Tax where the amount of tax is paid periodically as mentioned in the Act. TDS involves two parties:Continue reading… #Learn Taxation: Types of Tax Deducted at Source
Earlier we had learned about Penalty interest u/s 234A, 234B and 234C. Know about it later. Today we will learn all about Advance Tax. Advance tax is tax paid before completion of financial year. It is also known as payContinue reading… #Learn Taxation: Know about Advance Tax!
Many of the people are often confused when they analyse their income tax return, specially in terms of interest penalty charged on tax. One of the baffling interest penalties charged on tax are u/s 234A, 234B and 234C of IncomeContinue reading… #Learn Taxation: Difference between interest charged under Section-234A, 234B and 234C