TDS compliance calendar The TDS compliance calendar provides important dates and deadlines related to TDS for a specific financial year. Here is a general outline of the Tax Deducted at Source compliance calendar for FY 2022-23: TDS Deduction Due Dates: 7th of each month: TDS deduction for payments made in the previous month (except for… Read More »
TDS compliance for trust TDS compliance for trust, For a trust, compliance with TDS (Tax Deducted at Source) provisions is important to fulfill its tax obligations. Here are some key aspects of TDS compliance for trust: TAN Registration: The trust must obtain a valid Tax Deduction and Collection Account Number (TAN) from the tax… Read More »
How to do TDS complaints If you have any complaints or issues related to TDS (Tax Deducted at Source), you can take the following steps for filing TDS complaints: Contact the Deductor: If you have concerns about TDS deductions made by a specific deductor, you can reach out to them directly. Provide them with the… Read More »
TDS compliance in tax audit report TDS compliance in tax audit report, In the context of a tax audit report, ensuring compliance with TDS (Tax Deducted at Source) is a vital factor that requires attention. Here are some key considerations regarding TDS compliance in a tax audit report: Verification of TDS Deductions: The tax auditor will… Read More »
TDS compliance chart for FY 2024-25 TDS compliance chart for FY 2023-24: Here is a TDS compliance chart for FY 2024-25 (Assessment Year 2025-26) for non-government deductors: 1. Quarter – April to June: TDS Deduction Date: By the 7th day of the subsequent month TDS Payment Due Date: On or before the 7th day… Read More »
ITR with Balance sheet No, it is not mandatory to file the ITR with balance sheet in India. However, certain taxpayers such as companies, firms, and LLPs require to file a copy of their balance sheet along with their income tax return. Individuals and HUFs (Hindu Undivided Families) generally do not require to file their… Read More »
Capital income Vs Capital Gains Capital gains and capital Income are two different concepts in the field of finance. It’s refers to any income earned from capital assets, such as interest income from bonds, dividends from stocks, or rental income from a property. Capital income is typically earned as a regular income stream and… Read More »
ITR for business for tax savings ITR for business,To file your Income Tax Return (ITR) for a business and take advantage of tax savings, you should adhere to the following steps: 1.Maintain accurate books of accounts: It is important to maintain accurate books of accounts and financial statements of your business to calculate the… Read More »
RCM in GST The RCM stands for Reverse Charge Mechanism in GST. The Reverse Charge Mechanism is a concept under GST wherein the recipient of goods or services is liable to pay the GST instead of the supplier. To put it differently, the Reverse Charge Mechanism necessitates that the individual receiving goods or services obliged… Read More »
When Should We File Income Tax Returns (ITR)? Filing Income Tax Returns (ITR) is an essential responsibility for individuals and businesses to ensure compliance with tax laws and avoid penalties. Understanding the right time to file your ITR can help you manage your finances better and make the process smoother. Here’s a brief guide on… Read More »
