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Tag: incometax

Types of TDS Forms and Their Purpose

S. No.Form No.Detailed DescriptionDue Dates1Form 26QThis form is used to file TDS returns for payments other than salary, such as professional fees, interest, rent,...

What is Form 16C? Tax collected at source (TCS) on sale of goods

Unlocking Tax Compliance: A Deep Dive into Form 16C for TCS on Goods Sale with Illustrative Examples and Legal Insights CA Devesh Thakur Form 16CDescription: Certificate...

Explanation of Sections 234F and 234E

Section 234F - Fee for Late Filing of Return: CA Devesh Thakur Relevant Act Extract "234F. Fee for default in furnishing return of income.— (1) Without prejudice...

Explanation of Sections 234A, 234B, and 234C

Explanation of Sections 234A, 234B, and 234C: CA Devesh Thakur Section 234A - Interest for Late Filing of Return: Relevant Act Extract: "234A. Interest for defaults in furnishing...

Explanation of Advance Tax

Advance Tax Overview: Advance tax is a system of staggered payment of income tax liabilities by taxpayers over the course of the financial year,...

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Deductions available to individuals under the Old Tax Regime

SectionDeductionMaximum LimitApplicabilitySection 80CInvestments in PPF, EPF, LIC, NSC, ELSS,...

Rules of Debit and Credit: Traditional Approach vs Modern Approach

In accounting, the rules of debit and credit are...

Types of TDS Forms and Their Purpose

S. No.Form No.Detailed DescriptionDue Dates1Form 26QThis form is used...

India’s New Income-Tax Bill 2025: A Game-Changer for Taxpayers?

The Income-Tax Bill, 2025, as introduced in the Lok...

Understanding Global Payment Systems

1. UPI (Unified Payments Interface) – India UPI is one...

Case Studies

TDS (Tax Deducted at Source)
Financial Management

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