TDS Return on Salary Payment
When an employer pays salary to an employee, the employer is required to deduct TDS u/s 192. The employer has to file a salary TDS return in form 24Q, which needs to be submitted on a quarterly basis.
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Income Tax
When an employer pays salary to an employee, the employer is required to deduct TDS u/s 192. The employer has to file a salary TDS return in form 24Q, which needs to be submitted on a quarterly basis.
If the return is not filed in time, then as per section 234E the deductor will have to pay the late fee of Rs. 200 per day
Section 12AB comes into effect from 1st June 2020 and eligible assessee is required to apply for registration and approval within a period of 3 months
Businesses depreciate long-term assets for both accounting and tax purposes, for this they use Depreciation Rates as defined under the respected Act.
Business Code for ITR is needed when you are filing your Income Tax Return, where you need to enter the type of business you are doing and what is the code of that business under the Income Tax Act.
It means a flat deduction to individuals earning a salary or pension income. It was introduced back in Budget 2018 in lieu of transport allowance and reimbursement of miscellaneous medical expenses.
New Income Tax Portal not working, many people are facing challenges to load the new e-filing site and in filing income tax return
The provisions laid out in section 44ADA applicable to the specified professional such as legal, medical architect, accountancy, interior decorator, or any other professional as given in section 44AA.