Section 194J: TDS on Professional and Technical Services
As per Section 194J of the Income Tax Act, any person (other than an individual or a Hindu Undivided Family) who makes a payment to a resident for professional or…
As per Section 194J of the Income Tax Act, any person (other than an individual or a Hindu Undivided Family) who makes a payment to a resident for professional or…
Leave Travel Allowance (LTA) is provided by an employer to cover an employee’s travel expenses, usually for a vacation. As per Section 10(5) of the Income Tax Act, LTA is…
Depreciation under Section 32 of the Income Tax Act, 1961 is a deduction allowed for the decrease in the value of tangible and intangible assets that are used in the…
According to the Income Tax Act, filing your Income Tax Return (ITR) within the due date is mandatory. If you fail to do so, you may face heavy penalties and…
Stamp duty is an essential part of property transactions. It varies across different states in India and is applicable to all types of deeds or instruments of transfer, including conveyance…
What is GST in India? GST, or Goods and Services Tax, is an indirect tax that replaced several earlier indirect taxes in India, such as excise duty, VAT, and service…
Since the rollout of GST in India, Section 73 of the CGST Act has been applied to determine GST demands in genuine cases where there is no fraudulent intent. However,…
People may wish to change their names for several personal, professional, or cultural reasons. Since a name is a key part of one’s identity and appears on important documents such…
For every taxpayer in India, it is important to know how the tax system works and the correct way to file both direct and indirect taxes. Having a clear understanding…
Under the provisions of the Income Tax Act, 1961, an individual can have one of three residential statuses — Resident, Non-Resident Indian (NRI), or Resident but Not Ordinarily Resident (RNOR).…