Form 26QB is a statement cum challan for the online payment of TDS on property transactions.
Section 2(42C) of the Income-tax Act, 1961 (IT Act) defines the term slump sale" as the transfer of one or more undertakings, by any means, for a lump sum consideration without values being assigned to the individual assets and liabilities in such a transfer
Last week 7th of Nov 22 was the due date for payment of TDS deducted during the month of October 2022, whereas most of them would have noticed that in tin-nsdl portal
TDS stands for Tax Deduction At Source. TDS is applicable on every person who is making the payment which are specified under Income Tax Act,1961.
Know everything about Form 16 & 16A of Tax Deducted at Source
As we are all aware, under the Income Tax Act of 1961, every assessee has to furnish his income tax return as required by 139. Once it has been furnished, the assessment part comes into play, where an assessing officer scrutinizes the ITR form and takes action as required.
The world is changing dramatically, and if one is not aware of what the future is and what major changes are taking place in the future, one may not be able to sustain the practice.
Freelance income includes earnings that you generate from completing freelancing tasks. Freelancing is a form of self-employment as you are not hired by the company or placed on its payroll.
In recent years, the advent of cloud accounting has revolutionized how SMEs handle their finances, offering a myriad of benefits that can streamline processes and drive growth.
The Goods and Services Tax (GST) regime allows businesses to claim Input Tax Credit (ITC) on purchases used for taxable supplies. However, there are situations where previously claimed ITC needs to be reversed.
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