Tax Deducted at Source (TDS) is a crucial mechanism under the Indian Income Tax Act, ensuring tax collection at the source of income generation. The government regularly updates TDS rates to align with economic policies and revenue needs. This article provides a detailed overview of the TDS rate chart for the Financial Year (FY) 2024-25, […]
TDS On Property Purchase
Tax Deducted at Source (TDS) on property transactions is an important aspect of real estate dealings in India. It ensures tax compliance and helps the government track high-value property purchases. This article explains TDS on Property Purchase, its concept, applicability, rates, and process of TDS on property transactions. Understanding the intricacies of TDS on property […]
Partnership Registration Process
Two or more persons can start a partnership business which is called partnership firm also. The partners can decide on a profit-sharing ratio mutually. There are many benefits of registering a partnership firm, which are discussed in this blog post with partnership registration process. To register a partnership firm in Uttar Pradesh, India, you need […]
Updated Income Tax Return (ITR-U)
The Updated Income Tax Return (ITR-U) is a provision introduced by the Indian government to allow taxpayers to rectify errors or omissions in their previously filed Income Tax Returns (ITRs). This initiative aims to enhance tax compliance by providing an opportunity for individuals and businesses to voluntarily disclose any undisclosed income or correct inaccuracies without […]
Income Tax Refund
An Income Tax Refund arises when the tax amount paid by an individual or business exceeds their actual tax liability for a financial year. This excess amount is refunded by the Income Tax Department upon processing the Income Tax Return (ITR). Checking Income Tax Refund Status To monitor the status of your refund, you can […]