How to file ITR 2 To file your Income Tax Return (ITR) using ITR-2 form, which is applicable to individuals and Hindu Undivided Families (HUFs) having income from various sources except for business or profession, you can follow these steps: 1. Gather your documents: Collect all the necessary documents, including your Form 16 (if applicable),… Read More »
Tax deduction TDS stands for Tax Deducted at Source, is an Indian taxation mechanism that involves the deduction of income tax at the source of payment. Under this system, a person or entity making certain types of payments such as salary, commission, rent, or fees require to deduct a percentage of the payment as tax… Read More »
Deadlines for GST Tax Payments The specific deadlines for GST tax payments vary based on the taxpayer’s category and the frequency of their filinga Here are some general guidelines for GST tax due dates in India: Monthly GST Return Filers: For businesses that file their GST returns on a monthly basis, the tax due… Read More »
Private Ltd company Private Ltd company and income tax are two types of taxes that a private limited company may be require to pay, and they have some differences: Pvt Ltd Company Pvt Ltd Company is a tax on the profits earn by a private limited company is paid on the net profits of the… Read More »
Capital gain tax in India Capital gains tax is a tax levied on the profit realized from the sale of an asset. In India, capital gains tax is divided into two categories – short-term capital gains and long-term capital gains. Short-term capital gain tax in India is applicable when an asset sell within 2 years… Read More »
Service tax Service tax, a tax imposed imposed by the Government of India, was applicable to services rendered by services providers. It was introduced in 1994 and regulated under the Finance Act, 1994. However, in 2017, it was replaced by the Goods and Services Tax (GST). Under the services taxation system, services providers… Read More »