financial services · GST · Income Tax · income tax return · Our Services · Taxation

Basic difference between Income Tax and TDS?

Still confused with Income Tax and TDS, fret not as here are some of the basic differences between Income Tax and TDS. Income Tax It is a mandatory tax paid by individualsand HUFs who have their income from various sources. It is a direct tax thatgoes directly from taxpayer to the government. TDS Tax Deducted… Continue reading Basic difference between Income Tax and TDS?

financial services · Income Tax · income tax return · Our Services · Scoop.it · Taxation · Uncategorized

Why your Income Tax Refund is getting late?

If you have paid some extra amount as your Income Tax, then there are chances that you will get an Income Tax Refund. There are instances where the taxpayer does not receive his/her refund on time. It takes inordinately long time to get IT Refund, here are a few reasons why: – There are chances that, there… Continue reading Why your Income Tax Refund is getting late?

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When to go for Presumptive Tax Scheme?

If you are a business person, according to Section 44AA of the Income-tax Act, 1961, you will be required to maintain regular books of account in particular cases. For providing relief to small taxpayers from such hassles, a provision for presumptive tax is there under Sections 44AD, 44ADA, and 44AE. You can save yourself from… Continue reading When to go for Presumptive Tax Scheme?

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When Does your Education Loan not help Save Tax?

With the increasing education cost, people are making their way towards education loan. According to one of the four credit bureaus in India, the average amount of education loan has gone up from 2.5lakh to 6.77 from 2010 to 2017. When you take any loan, the major concern is to get the lowest possible rate… Continue reading When Does your Education Loan not help Save Tax?