How to Apply for Voter ID Card online – A Step by Step Guide

For a country like India, Voter ID card serves as an important document of identification. Irrespective of whether you are buying a new sim card or buying a house, Voter ID card is a must. The Election Commission of India (ECI) has recently simplified the process to register for Voter ID cards by taking the … Read more

Filing of Tax Audit & ITR (AY 2017-18) Due Date Extended

Income Tax Department has extended the due date for filing of income tax return (ITR)/Tax Audit Report for the assessment years 2017-18 (Finanican Year 2016-17) from 31st October 2017 to 7th November 2017. The notification has not yet published by the department. Income Tax Department has tweeted about it. The order no. F.No.225/270/2017/ITA.II has also … Read more

Depreciation Rates Chart under Companies Act 2013

Rates of Depreciation under Companies Act 2013 Depreciation Rate Chart – as per part “C” of Schedule II of Companies Act, 2013 after making following assumptions: The useful life to computer depreciation of the asset has been taken as per Part C of the Schedule II The residual value of an asset has been taken … Read more

Register & Login on incometaxindiaefiling.gov.in Easily with Images

In this article we will discuss about incometaxindiaefiling.gov.in registration and login procedure. You can also check the procedure about of to get new password in the case of forget password on incometaxindiaefiling.gov.in. When it comes to handling information based websites such as http://incometaxindiaefiling.gov.in/, it is important that people are well aware of the registration and … Read more

8 Legal Ways to Save Tax Effectively

Today everyone in the economy wants to save himself from paying taxes or to decrease their tax liabilities.  Now to save tax paying in Indian economy the Income Tax Act grants many deductions which a person can claim at the time when he/she is filing Income Tax Return. These deductions are for all type of … Read more

Section 193 – TDS from Interest on Securities – Quick Summary

TDS from Interest on Securities u/s 193 – Quick Summary Person Responsible to Deduct Tax Government/ Local/ authority/ statutory corporation company  Central Govt. in case of 8% (taxable saving bonds) Exemption Limit Exempt Categories monetary limit of Rs. 5,000 in case of listed or unlisted debenture; otherwise no minimum Rs. 10,000 in case of 8% … Read more

TDS on Salary: Easy Way to Calculate TDS on Salary

The most confusing concept in whole TDS is “TDS on Salary” as readers always asked questions about the topic. In this article, we will cover all the topics related TDS on salary like how to deduct TDS on salary, how to calculate tds on salary, deposit TDS, submission of statements, time of deduction, annual salary … Read more

Section 44ADA: Presumptive Income @ 50% for Professionals

The government of India has tried to lower the burden on small businesses as well as the professionals. The incentive of presumptive income has also been provided to the professionals under the act. Let’s have a look on the presumptive income scheme as provided to the professionals in this article. As per section 44ADA, if … Read more

Section 44AD: All About Presumptive Scheme for Businesses

There are a lot of tax compliances which are to be done by every business. The businesses which are having high turnover have to do all these compliances but the small business can opt for the presumptive schemes. In this article, we will discuss about one of the presumptive scheme i.e. Sales for businesses with … Read more

Who is Liable to Deduct TDS for F.Y.2018-19

Any persons responsible for making specified payment (check here specified payment) as prescribed in income tax are liable to deduct tax at source.  The obligation to deduct tax at source is upon the person responsible for paying the income/amount which is subject to TDS. What is the rate of TDS? Its depends on the nature … Read more

Section 194H – TDS on Commission & Brokerage

A complete guide of section 194H – TDS on Commission and Brokerage for A.Y.2017-18. Who is Liable to Deduct TDS under section 194H? Any person who is liable to pay commission or brokerage shall deduct TDS. Here we will not talk about insurance commission. The TDS on insurance commission under section 194D has discussed here. … Read more

Section 194G – TDS on Commission on Sale of Lottery Tickets

A complete guide of Section 194G TDS on Commission etc. on sale of lottery tickets Who is Liable to Deduct TDS Under Section 194G? The persons who are paying any commission, remuneration or prize on lottery tickets to a person who has been stocking, distributing, purchasing or selling lottery tickets. What is TDS Rate under … Read more

Section 194EE – TDS on National Saving Scheme

A complete guide on Section 194EE- TDS from Payment in Respect of Deposit under National Saving Scheme etc The person responsible for paying to any person any amount standing to the credit of such person under National Saving Scheme (to which section 80CCA was applicable) together with interest accrued thereon, shall deduct income-tax thereon such … Read more

How to Calculate Advance Tax?

Advance tax calculation is very simple as every layman can do it without difficulty. First of all, you should know that advance tax is paid in installments as we have discussed in previous article. Secondly, you should know that are you liable to pay advance tax, if yes, then this article is for you if … Read more

Track PAN Card Status – UTI, NSDL PAN Application Status 2018

When you apply for PAN card, you get acknowledgement receipt. The acknowledgment receipt has acknowledgment number. The acknowledgement number will help you to track your PAN application status. You can check or track your PAN card status with this acknowledgment number easily. PAN card status here means to check your application status for approval, rejection … Read more

12 Ways to Reduce Taxes on Salary

In India, everyone is in need to reduce the tax burden. Here the salaried people suffers more as the salary is received through bank so the ways of tax reduction gets decreased. In this article, we will have a look on some of the ways which could help the salaried people to reduce the tax … Read more

11 Ways to Select Best Health Insurance Policy in India

Today people are suffering from many health problems and many times these problems can take one to hospitalization. Due to the emergency problem the cost of medical care and treatment may gone very up drastically which can ruin you financially. Thus, one should choose best health insurance plan, which can result as Boon for you … Read more

A Very Simple Guide for Tax on EPF Withdrawals

The biggest burden on every employee is tax on EPF. People make very wrong statement about EPF, that EPF withdrawals are not taxable but it is not purely true because these withdrawals can be taxable under some conditions that are given below. If before the completion of 5 years the employee withdraws the EPF balance … Read more