Fees for technical services" ("FTS") means any consideration (including any lump sum consideration) for the rendering of any managerial, technical or consultancy services (including the provision of s

Detail of the deduction of this TDS and details of depositing it in advance with the government is recorded in Form 16

Usually, the person receiving income is liable to pay income tax but the government with the help of TDS provisions makes sure that income tax is deducted in advance from the payments being made by an

In India, the Minimum Wages Act, 1948 provides for fixation and enforcement of minimum wages in respect of scheduled employments.

Indian Startups to go to China: Hainanese delegation in AIC BIMTECH

ITR Forms as heard by everyone Income Tax Returns, The pain for everyone and every year to disclose the Income earned in the previous year. Ever year new ITR Form is issued by CBDT with changes and al

TDS on rent will be deducted under section 194I only if it has been paid or payable under a lease, sub lease, tenancy or any other agreement

Union Budget was received with mixed emotions. On one hand Finance Minister proposed to reintroduce Standard Deduction of Rs 40,000/- which will be deducted from taxable income of employees to bring s

​IT Department feels that marketing cost (discount) should be treated as Capital Expenditure and not to be deducted from revenue.

The Company amendment bill is passed by Rajya Sabha on December 19, 2017 and by Lok Sabha on July 27, 2017, which shall come into force on getting the President Assent:

Advance Taxes Referred to as ‘Pay-As-You-Earn’ taxation. Everyone does not have to pay advance tax. It is only applicable on sources of income other than your salary. This includes earn

Payment of rent to a resident for land and building exceeding INR 50,000 per month is liable for tax deduction. Payment of rent paid or payable after 1st June 2017 are covered only.

If you thought you pay tax based on what your CTC is, then you wouldn’t be the only one, but you’d be kind of wrong. You see, the income tax department speaks a different language altog

Section 139AA of the Income Tax Act as introduced by the Finance Act, 2017 provides for mandatory quoting of Aadhaar number, for applying PAN & filing income tax return with effect from 1st July, 2017

With the Budget Highlights in February 2017, a move towards restricting the House Property Loss set off against income in other heads was initiated with a clarification that the owner can set off loss

Where consideration for transfer of share of a company (other than quoted share) is less than the FMV of such shares determined in accordance with the manner to be prescribed, the FMV shall be deemed