Royalty Taxation Content creators who receive Royalty Taxation for their creative work, such as books, music, or artwork, are typically subject to specific taxation rules that vary depending on their country’s tax laws and agreements. These royalties are a form of income earned from the commercial use of their intellectual property. Here’s how… Read More »
Requirement of Statutory Audit Requirement of Statutory Audit, Whether a statutory audit is require for a technical consultant depends on the following factors: 1. The nature of the business: Technical consultants who are engage in the business of providing consultancy services to a single client and the total amount of such services does not exceed… Read More »
Deadline for online content creators The deadline for online content creators to file their Income Tax Return (ITR) depends on the type of taxpayer and the applicable assessment year. Generally, for individual content creators who are not require to undergo a tax audit, the deadline for filing ITR is July 31st of the assessment… Read More »
E-Filing Process for Online Creators E-Filing Process for Online CreatorsT, he process for e-filing Income Tax Return (ITR) for online content creators involves several steps to ensure accurate reporting and compliance. Here’s a breakdown of the process: 1.Gather Financial Information: Collect all your financial documents, including income statements, expense records, Form 16 (if applicable), and… Read More »
Tax exemptions For Physiotherapist Yes, there might be Tax exemptions For Physiotherapist available based on their income level. Tax exemptions often design to provide relief to individuals with lower income levels, ensuring they don’t bear an excessive tax burden. However, the availability of these exemptions can vary depending on the specific… Read More »
Financial records for tax audits Here are some tips on how a technical consultant can manage their financial records for tax audits: 1. Keep accurate and up-to-date records: The first step is to keep accurate and up-to-date records of all financial transactions. It includes invoices, receipts, bank statements, and other documents. 2. Organize your records… Read More »
ITR Filing Requirements for Physiotherapist ITR filing requirements for Physiotherapist, who also hold a full-time job are required to follow specific ITR filing requirements. Here’s a detailed explanation: 1. Income Sources and Taxability: Physiotherapists with a full-time job need to report and file their income tax returns considering both their salary income from the… Read More »
ITR for Interior designer Interior designers should maintain a comprehensive set of documentation to support their Income Tax Return (ITR) filing. This documentation serves as evidence to substantiate their income, expenses, and claims, ensuring transparency and compliance with tax regulations. 1. Income Records: Interior designers should keep records of all sources of income, such as… Read More »
ITR due date for interior designer The ITR due date for interior designers to file their ITR for the financial year 2022-23 (assessment year 2023-24) is July 31, 2023. However, there are some exceptions to this due date. For example, if an interior designer’s income is less than Rs. 2.5 lakh, they are not required… Read More »
Do Interior Designers need to file ITR Yes, interior designers need to file an income tax return (ITR) if their total income exceeds the specified threshold. The threshold for filing an ITR for the financial year 2022-23 (assessment year 2023-24) is Rs. 2.5 lakh. However, there are some exceptions to this rule. For example, interior… Read More »