Mr.Sudarshana is a Partner of Top Class Services, a service provider in photocopier, scanners, etc. They take up Annual Maintenance Contract (AMC) of photocopier machines. While providing the service (AMC), apart from their labour, they also change or replace parts. They want to know the applicability of VAT and Service …

Introduction PPF refers to Public Provident Fund and is a Long Term investment Scheme of the Govt. of India on which regular interest is paid. Any Individual (whether Salaried or Self-Employed or any other category) can invest in this scheme and can earn a handsome tax-free return on the same which is usually higher …

This is in continuation of my previous article ‘Invest in FD but still save income tax on Interest’.   TDS on Interest When bankers pays the interest on FD, they have to deduct tax at 10% (called TDS) u/s 194A if the interest is over Rs.10,000/- per year. TDS Exemption …

The known fact is that the Interest Income on Bank Fixed Deposits is subject to Income Tax. The lesser known fact is that there are options through which you can save tax on Interest. We wouldn’t have thought about writing this article but for Mr. Sri Krishna’s query.  Mr. Sri …