Eligible for ITR file In India, the following individuals and entities are generally eligible for filing an Income Tax Return (ITR): 1.Individuals with taxable income: Individuals who have earned taxable income during the financial year need to file an ITR. This includes salaried individuals, self-employed individuals, professionals, and freelancers. 2.Companies and firms: All companies and… Read More »
Tax Planning for Salaried Employees Tax planning for salaried employees involves utilizing various strategies to optimize your tax situation and reduce your tax liability. Here are some key considerations: 1. Understand Tax Deductions: Familiarize yourself with the deductions available to salaried employees. This includes deductions for expenses such as house rent allowance (HRA), standard… Read More »
Can TDS be deducted on the accreditation fee The answer to this question depends on the specific circumstances and nature of the accreditation fee. In general, TDS (Tax Deducted at Source) is applicable to certain types of payments made by businesses, such as salaries, rent, and professional fees. If the validation fee can be classified… Read More »
If toll tax is added to car hire bill on which amount TDS will be deducted Yes, you are correct. TDS is not applicable on toll tax as it is not considered as income. Therefore, when toll tax is included in a car hire bill, TDS will not be deducted on it. TDS is only… Read More »
