CA Nikhil Jain

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TDS on sale of immovable property

Section 194 IA: Payment on transfer of certain Immovable Property other than Agricultural Land (with effect from 01.06.2013) Vide BUDGET 2013, read with Notification No.39/2013 dated 31st May, 2013, a new Section 194-IA was inserted to Income Tax Act, 1961 in the case of transfer of immovable property (situated in India or abroad/commercial or …

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Payment of tuition fee can help to reduce your taxes

Introduction: Section 80C of the Income Tax Act allows certain investments in many small savings like NSC, PPF, Pension plans and certain expenditure like payment of tuition fees, life insurance premiums, and payment of principal amount of home loan to be tax exempt. The aggregate amount of deduction permissible under …

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