To understand Income Tax we need to understand what is Income, Income Tax slabs, Types of Income, the tax on different types of Income when it is taxed, dates and year related to Income Tax, tax cut i.e TDS, how to see TDS, how and when to pay advance tax, how to pay tax due...
There are two types of taxes - direct taxes and indirect taxes. Taxes you pay on goods and services are indirect taxes. On the other hand, income taxes deducted in the form of TDS from your salary is an example of direct tax. Direct taxes contribute to expenses towards state and central...
Yes,TDS on an NRO Accountis deducted at 30% on interest income, as per Indian tax laws. However, if your country has a Double Taxation Avoidance Agreement with India, you may be eligible for a lower TDS rate. For tax implications specific to your situation, you can consult a tax expert...
Making TDS payments through Challan 281 is part of the legal framework that businesses need to remain compliant. Hence, it’s important to ensure timely TDS payments to avoid hefty penalties. Automate tax payments for your business with RazorpayX and never miss another TDS Payment. ...
What do you understand by the term Tax? In simple words, It is the part of our income which the Government collects from us and provides several facilities like, water and drainage system, school facility, medical facilities, construction of roads and dams and so on. Tax is a compulsory pa...
After a long wait, finally the Union Budget 2019 is here and one must remember, this budget is here to stay. Read more Changes in Exemption limit under GST Recently, the GST council doubled the exemption limit to Rs. 40 Lakhs for the payment of Goods and Services Tax. ...
GST is designed to simplify tax collection by applying tax at multiple stages, only on added value, and at the point of consumption. Below, we’ll walk through these features to show how GST works across the supply chain, ensuring a fair and efficient tax process. ...
A Term Deposit is considered one of the best andsafest investment options. It protects your capital and provides guaranteed returns. Term Deposits are ideal for investors with a lower risk appetite looking to earn a fixed source of income or create a lump sum deposit. ...
Net salary is the income which an employee actually gets in hand after all the deductions are done from salary. These deductions include Provident fund, gratuity, superannuation, retirals and most importantly income tax or TDS (Tax deducted at Source). Net salary is also known as Take-Home or...
The next step in the payroll process is to collect all the data required to calculate employee salary from different departments and managers, which includes information about attendance, leave, performance, salary revision, loan recovery, transportation costs, income tax details, etc. If the organiza...