Revised Income Tax Slabs 0-2,50,000 0% 2,50,000-5,00,000 5% 5,00,000-7,50,000 10% 7,50,000-10,00,000 15% 10,00,000-12,50,000 20% 12,50,000-15,00,000 25% 15,00,000 above 30% – 10% for income between Rs 5 lakh-7.5 lakh against 20%. – 15% for income between Rs 7.5 lakh-10 lakh against 20% – 20% for income between Rs 10-12.5 lakh against 30% – 25% for income […]
CBDT extends the due date for filing Income Tax Returns and audit reports from 30th September 2019 to 31st October 2019. The due date on Income tax return and tax audit report for fy 2018-19 and ay 2019-20 extended from 30th September, 2019 to 31st October, 2020 for assessees cover under clause(a) of explanation 2
The Last date of file Income Tax Return for AY 2019-20 and FY 2018-19 is 31st August, 2019.
Last Date of Income Tax Return of AY 2019-2020. Read More »
Any person responsible for paying any sum to a resident transferor by way of consideration for transfer of an immovable property (i.e. building or part of building or any land other than agricultural land) is liable to deduct tax at source u/s 194-IA. In simple words, as per this section the buyer has to pay
TDS on Sale/Purchase of Immovable Property-194IA Read More »
TAN number is a specific number allotted for Deduction/ Collection of TDS and payment of same into Govt A/c by a person, who is making payment in relation to a business purpose/ transaction. The TAN No provides a unique Identification to Tax Deductor / Collector and help in the tracking of transactions, like payment of taxes and
What is TAN Number in Income Tax? Read More »
What is Advance Tax ? Advance tax means income tax should be paid in advance instead of lump sum payment at year end. It is also known as pay as you earn tax. These payments have to be made in instalments as per due dates provided by the income tax department. Who should pay Advance Tax? If
What is Advance Tax in Income Tax ? What is the due date Advance Tax? Read More »
What is Gratuity? Gratuity is defined as a sum of money that is paid to the employee over and above the decided salary at the time of his retirement Who is eligible for Gratuity? An employee is eligible to receive a gratuity only if he has completed five years of employment with an organization. However,
What is the Gratuity ? Who is Eligible for Gratuity ? Read More »
TDS stands for tax deducted at source. As per the Income Tax Act, any company/bank or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates prescribed by the tax department. TDS is basically a part of income tax.
What is the TDS ? TDS kya hota hai ? Read More »
The major changes and amendment of Income Tax in Internal Budget 2019-20 as below :-
Income tax changes in Internal Budget 2019-20 Read More »
It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax are covered in the Income-tax Act, 1961.
What is Income Tax ? Read More »
