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Claiming TDS for Income under clubbing provisions

Claiming TDS under rule 37BA

Assessment Year 2018-19 has brought up new ITR forms with some major changes which were the pressing need of the hour. One of them is claiming TDS by the assessee other than the deductee himself.

According to rule 37 BA(2), income on which tax has been deducte…

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Notice by the registrar for removal of the name of the company from the register of the companies

Section 248 gives power to the registrar to remove name of a company from register of Companies.

If you have incorporated a company but have not done any business or not filed the annual returns for the preceding two years then you may get this letter from ROC. Generally they give 2 such reminde…

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Deduction under section 80TTA | Applicability for Residents and Non-Resident Indian (NRI)

About: Section 80TTA provides deduction on interest income from savings bank account to individuals and HUF.

Deduction u/s 80TTA: Any individual, being a resident or a Non-Resident Indian (NRI) or a Hindu Undivided Family (HUF) having interest income on deposits in savings bank account in India …

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Not able to download Form 26AS due to its large size

Sometimes, you may not be able to download Form 26AS from the Income Tax portal due to its large size. You will get an error message of “Due to large size of Form 26AS, this request can only be processed on-demand. Please log-in to TRACES and submit download request for Form 26AS which would be made…

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Claiming Foreign Tax credit in Form-67

What is Foreign Tax Credit?

If we have earned income from any other country, some tax must have been paid or deducted by the payer as per the provisions of that country. A resident individual of India is taxed in India for the income earned globally. It also includes the income we have earned…

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RECEIPT OF NOTICE FROM THE INCOME TAX DEPARTMENT U/S 143(1)(a)

What is notice u/s 143(1)(a) of Income Tax Act?
In the AY 2017-18, several taxpayers have received this notice. The Income Tax department sends this notice seeking a response to the errors/ incorrect claims  which attract adjustment(s) under Section 143(1)(a) of the I-T Act  regarding  mismatch bet…

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CLAIMING EXEMPTION U/S 11

CLAIMING EXEMPTION U/S 11- NECESSARY PRE-REQUISITES FOR ACCURATE PROCESSING OF ITR

1. Return of income in prescribed form ITR-7 needs to be filed on or before the due date mentioned u/s 139(1).

Section 139(1) applies to-

a) Every person who has a total income that exceeds the exemption …

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TDS on Rent by Individuals

Section 194IB in the Income-Tax Act - 

In the section 194-IB of the Income Tax Act, 1961, it has been said that all the transactions which will be effected from June 1, 2017, a tax will be deducted by the Tenant of the property at the time of making payment of rent to Landlord. This tax shou…

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Startup Company Registration in Kolkata

Startup Company Registration in Kolkata

Kolkata, the beautiful capital of the West Bengal is located on the banks of the Hooghly river. This warm place is the seventh most populated city in India. The other name for this city is the City of Joy. With excellent literature rate, this joyful place h…

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How to File Income Tax return without Form-16

How to File Income Tax return without Form-16

Paying income tax is the duty of each earning citizen of the country. It’s quite simple. To break it down, a certain percentage of your salary is deducted, and this amount is deposited with the central government. The tricky part is filling your inco…

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