Direct tax as it suggests is the tax levied directly on taxpayers on income or wealth, corporation tax, property tax, gift tax.
File income tax return for Individual, HUF, LLP, Partnership and companies
Popular tax saving options for Individuals and HUF.
Appoint Chartered Accountant or Expert to handle your taxes
Compliance with tax authorities to avoid penalties and proceedings
Under Section 194J, TDS will be deducted at a rate of 2% if the fees are for technical services. In all other cases, it’s 10% of the amount.
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Capital Gain is the gain or profit arises on sale/transfer of capital asset. Taxpayer need to pay tax of gain in year of sale or transfer.
Person making the payment of goods or service or salary is responsible to deduct tax from the due payment. The deducted tax will reflect in taxpayers 26AS when the deductor file his TDS return.
Hon’ble Prime Minister Mr. Narendra Modi initiated ‘Startup India Campaign’ in 2016 to boost startups talent in India.
To encourage the startups and to boost investment in various industries government has introduced several deduction for corporate and non-corporate tax payers
Individual having income more than 2.5 Lakhs or 3 Lakhs for senior citizen or 5 lakhs for super senior citizen.
Form 16 is details of how much tax did the employer deduct and when was it submitted to the IT department. It is mandatory for employer to issue form 16 to employees under sec 203. Part A of Form 16 is details of tax deducted quarterly and Part B is tax calculation of your salary on which TDS is deducted. While Form 16A is certificate issued to vendor or service provider by recipient.
Please declare all investments details and rent paid if any, and file your income tax return and claim refund of excess tax paid.
Always check 26AS Quarterly and ask your tax expert if you need to pay any advance tax to avoid interest under sec 234A 234B and 234C.
To pay tax you can visit bank or pay online by filling challan 280 and selecting advance tax.
Akshay Kshirsagar is a legal consultant delivering insightful advice and services to assist clients with taxes and legal compliances