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While we offer tax preparation services in Maryland, building a solid foundation of tax knowledge is essential for keeping your business fin
Starting a new business is an exciting venture, but it comes with its fair share of responsibilities. One crucial aspect is understanding the basics of taxation. While we offer tax preparation services in Maryland, building a solid foundation of tax knowledge is essential for keeping your business finances in order.
Advance for property – Is the perplexity over??
Advance for property – Is the perplexity over??
Advance for property – Is the perplexity over??. Provisions of section 54 of the Income tax Act, 1961, which provide an exemption from capital gains tax, requires fulfillment of certain conditions for availment of exemption. The conditionalities, in brief, are either to purchase a house property 1 year before the date of transfer or within 2 years from the date of transfer or construction within…
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Additional Depreciation - Who can Avail?, availability, Rate of Add Dep.
Additional Depreciation – Who can Avail?, availability, Rate of Add Dep.
Additional Depreciation – Who can Avail?, availability, Rate of Additional Depreciation. Everything you want to know about Additional Depreciation. Check Complete details for Additional Depreciation. Additional depreciation, as the name suggests, refers to depreciation which can be claimed under section 32 (1) (ilia), in addition to depreciation allowance as under section 32(1). Now check more…
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TDS Rules and Regulations - All Details for Tax Deducted at Source
TDS Rules and Regulations – All Details for Tax Deducted at Source
TDS Rules and Regulations – All Details for Tax Deducted at Source. TDS is a mandatory requirement, which is a source of revenue for the government. This tax is deducted at the point of generation of income and TDS is hence spread for a wide variety of incomes like salary, interest, rent, etc. This article will explain rules and regulations of TDS. Now check more details about “TDS Rules and…
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TDS on Remuneration Paid to Directors, TDS on Director’s Remuneration
TDS on Remuneration Paid to Directors, TDS on Director’s Remuneration
TDS on Remuneration Paid to Directors, TDS on Director’s Remuneration. Directors are paid consideration in the form of salary, or in any other nature for e.g. sitting fees (payable to directors for attending board meetings), etc. Such payment made to the director is subject to TDS deduction. This article will explain how the director’s remuneration will be treated with respect to TDS liability.…
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TDS on Advertisements - Applicability, TDS Rates, Actual implications
TDS on Advertisements – Applicability, TDS Rates, Actual implications
Section 194C : TDS on Advertisements – Applicability, TDS Rates, Actual implications. This article will explain everything with respect to TDS deduction with respect to advertisements. Everything you want to know about TDS on Advertisements. There are many queries related to TDS on Advertisements like – Does Payment of Advertisement Charges attract TDSdeduction?, Can Provisions of section 194C…
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Section 194J - TDS on Professional Services or Technical services
Section 194J – TDS on Professional Services or Technical services
Section 194J – TDS on Professional Services or Technical services. TDS is required to be deducted by the service receiver to the service provider under 194J. TDS is a mandatory deduction, which needs to be deposited into government treasury as on prescribed date and specified rate.• Section 194J– Professional fees, technical fees, royalty or remuneration to a director. Now Check more details for…
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Income from Capital Gains, Short and Long Term Capital Gain
Income from Capital Gains, Short and Long Term Capital Gain
Income from Capital Gains, Short and Long Term Capital Gain. Complete Information about Income from Capital Gains. Capital gains are something which you will hand over to your tax advisor, considering a range of provision and exemptions. However, you need to have a certain understanding with respect to capital gain and their taxability and exemptions thereto. This will help you plan your…
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