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.

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.

However extension pronounced by court will not help in any way without extension of notification from CBDT.

Mrs.Malini has donated Rs.20,000 to R M Trust. She wants to know whether the entire amount can be reduced from the Income tax payable OR whether the entire amount can be reduced from her taxable income. The answer is, both are wrong. Through this article we have made a modest …

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 …

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 …

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 …

At least in my family, no one at home has subscribed to the idea of buying gold through Gold Exchange Traded Fund (ETF). People prefer physical gold over demat gold! Gold is there to touch and feel, not to see through internet in demat account, is what I have been …

 If you observe on all processed fruit products such as packaged fruit beverages, fruit jams, squashes, pickles, etc.,  ‘FPO’ is printed on the bottle or the sachet. What is FPO for?      FPO stands for Food Process Order The FPO is a certification mark mandatory on all processed food …