Ask anyone who is working 9 to 5, whether he is happy with it or not. The answer will be a quick no because no matter how much you earn, you are bound to be surrounded by work deadlines and time boundations. Sitting at one place does add up to the stress a lot. I…
The Prime Minister of India has made many monetary reforms that have had both positive and negative impacts on the economy and the businesses that operate in it. The GST was the latest such reform which was rolled out effective the 1st of July, 2017. Thankfully the SME sector – which is often cited as…
With yet another magnificent moves by the Indian government to strengthen its grip on tax evaders, the government has introduced a new Section 139AA in the Income Tax Act, 1961 by way of amendment to Finance Bill, 2017 passed by Lok Sabha. Each individual will have to requisite cite Aadhaar number in their PAN application…
Income Tax Return (ITR) may be described as a record providing the tax collector information about the taxpayer’s tax accountability. Taxpayers who are earning more than 5 lakhs taxable income it is compulsory for E-filing of income tax return. Income tax is basically a percentage of income that is paid to the government. All taxes…
TDS is an abbreviation that stands for Tax Deducted at Source. TDS is a means of indirect tax collection by Indian jurisdiction according to the Income Tax Act, 1961. TDS is managed by the Central Board of Direct taxes (CBDT), which comes under the Indian Revenue Services (IRS). TDS is collected as a means to keep…