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MULTIPLE TENANTS TDS
New Form 141 introduced for TDS filing: 4 existing forms merged into one challan-cum-statementThe Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form sim...
Income Tax Act 2025: New rules to kick in from April; why you should recalculate before deciding between old and new tax regimesWith the overhauled Income Tax Act taking effect from 1 April, taxpayers must prepare for new rules—and the renewed old vs new tax regime d...
Creating a mirage called employee: Another way a management can manipulate profits and mislead investorsJust another line item near depreciation and finance costs, with the real assumptions and calculations buried deep in the notes. That is pr...
High salary, higher tax risk: How HRA still tilts the old vs new regime decisionMost Indians now prefer the new tax regime for its simplicity and higher in-hand pay. Those sticking to the old regime need careful tax pla...
Good news: Income tax return filing due date extended again by tax deptITR Filing Last Date Extended: The Ministry of Finance has extended the ITR filing due date again to September 16, 2025. While initially th...
NRI Talk: Tax-free gains? How NRIs in UAE, Singapore & Mauritius legally avoid MF taxesNRIs are increasingly aligning investments with India’s growth, drawn by economic resilience, reforms, and emotional ties. Tax-friendly hub...
Union Budget: TDS relief for small taxpayers, TCS boost for international tripBudget 2025 proposes increasing threshold limits for tax deducted at source (TDS) across various income categories, benefiting small taxpay...
HRA tax exemption: HRA fraud with illegal usage of PANs detected by tax dept; how to avail House Rent Allowance, proofsHRA tax fraud: The investigation by the tax department began when authorities stumbled upon purported rent receipts totaling approximately ...
What is the TDS rate for salary, dividend, interest, house rent, cash withdrawal and other transactions for FY 2024-25Tax Deducted At Source (TDS): TDS is levied on many types of incomes like salary, house rent, virtual digital assets (VDA), etc. What is im...
When is TDS to be deducted from house rent payments to the landlord?If you are paying a house rent of more than Rs 50,000 per month, then make sure to deduct TDS from such rent and deposit it in the governme...
Budget 2024: NRIs expect simplified TDS compliancesInterim Budget 2024: Lately, there has been a heightened emphasis on deductors adhering to TDS (Tax Deducted at Source) regulations, and fa...
Paying rent less than Rs 50K but sharing flat with others? You could be liable to deduct TDSIf a tenant is paying an rent of more than Rs 50,000 to his/her Indian resident landlord then TDS must be deducted. However in case a flat ...
ITR Filing FY2022-23: Do you need to revise your income tax return (ITR)? Find out hereITR Filing FY2022-23: Revised income tax returns for the current assessment year can be filed till 31 December 2023. The revision can be do...
How to claim credit of TDS deducted by employer but not paid to govt?If any tax has been deducted at source and deposited with the central government, it shall be treated as a payment of tax on behalf of the ...
Brookfield REIT issue to open on Wednesday to raise Rs 3,800 crThe initial public offer (IPO) of Brookfield India Real Estate Trust (Brookfield REIT) will open on February 3 at a price band of Rs 274 to...
How to file ITR-1 with salary, house and other incomes for FY 2019-20This year ITR-1 form has introduced schedule DI to provide details of the tax-saving investments made in the extended period till July 31, ...
Budget analysis: The good, the bad and the ugly of Sitharaman's budgetHere is a look at the good and the not-so-good sides of Nirmala Sitharaman's maiden budget.
ITR filing: Don't make these mistakes to avoid getting tax noticeFind out what you should do to avoid getting a notice for small errors on income tax returns.
When and how should a tenant deduct TDS on rent paid to landlord?Individuals paying rent of more than Rs 50,000 per month have to deduct 5% of the rent paid in a financial year as tax. Here's how to pay i...
Individuals' advance tax date is 3 months earlier this year: Pay by June 15 else bear heavy interestThis has significantly increased the income tax compliance burden on individual tax payers.