Employees are encouraged to travel anywhere in India along with their families and to help the employee the travel expenses are given by the employer which is exempt u/s 10(5).
With effect from July 1, 2021, a person will have to pay TDS/TCS at a higher TDS/TCS rate if he/she has not filed Income Tax Returns for the last two years and has aggregate TDS/TCS credit of Rs. 50,000 or more in each of the two years.
Section 206C(1H)/194Q states that sellers/buyers must collect TCS/TDS for the sale of any goods of the value or aggregate of such value exceeding INR 50 lakhs in any PY from the buyer/seller.
Time after time, people of even modest means reach financial security and all that it promises i.e. buying a home, educational opportunities for their children, and comfortable retirement. If they can do it, so can you!
Any buyer who is responsible for paying any sum to any resident seller for the purchase of any goods of the value or aggregate of such value exceeding Rs. 50 lakh in any PY, is required to deduct TDS u/s 194Q w.e.f July 1, 2021.
As the new Labour Codes are expected to become effective in less than two months from now, some of the areas which will impact employers and employees have been listed in this article.
This Article contains compliance requirements under various Statutory Acts for which the due date falls in the month of June 2021. Do note the same to avoid penalty, interest, or late fee.
Budget 2020 introduced a new scheme of taxation u/s 115BAC for individuals and HUF, which they can choose from FY 2020-21. Let us compare the Income Tax on Salary under the New Scheme and the Old Scheme.
Discussing the best teachers for Information Systems Control and Audit (ISCA). The courses which are going to be mentioned are in Google Drive Format, Pen Drive Format and Video lectures Format.
In view of the spread of pandemic COVID-19 across many parts of India & challenges faced by Taxpayers, the Government has announced certain Covid-19 Relief Measures under the GST law.
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