Payment of TDS

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.

Read More »

Service Tax Payment

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.

Read More »

Income tax terminologies

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 …

Read More »

TDS on purchase of immovable property

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 …

Read More »

Taxation on Gold Exchange Traded Fund (ETF)

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 …

Read More »