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CA

Payment of TDS

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Tax Deducted at Source (TDS) done during the month of August 2014 has to be remitted to the Government on or before 7th September 2014. Delay in payment attracts penal interest.

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Service Tax Payment

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The due date for e-payment of service tax for the month of August 2014 is 6th September 2014. If the payment is made manually, the due date is 5th September 2014. Pay the taxes on or before the due to avoid penal interest.

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Income tax terminologies

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The word ‘Income’ has a very broad and inclusive meaning. In case of a salaried person, all that is received from an employer in cash, kind or as a facility is considered as income. For a businessman, his net profits will constitute income. Income may also flow from investments in ...

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TDS on purchase of immovable property

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The provisions of this section states that TDS on sale of Immovable Property should be deducted at source from payment on transfer of immovable properties (other than agricultural land) where the consideration paid or payable is more than Rs 50,00,000/-. Earlier, there was no such deduction in case of immovable ...

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9 things one should know about Tax benefit on payment of Housing Loan and Interest on self occupied property (w.e.f.Financial Year 2014-15)

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The possession of the property To claim the deduction of Interest payment, the house must be completed and possession taken.  However, for taking tax benefit on principal repayment, it can be taken from the year you start repaying the loan. The Principal Repayment The principal repayment towards housing loan up ...

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