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Income tax return filing: Useful tips for first-time return filers

An income tax return is a yearly statement that declares your income and taxes paid during the year to the income tax department. It...

File your ITR online without Form 16

What is Form 16? Form 16 is a TDS certificate furnished by the employer to the employee. It contains the details of the TDS...

TDS alert! New rules to take effect from today: Everything you need to know

One of the most important income tax changes that will come into effect from July 1 in India is the change in the rules...

Section 206AB: TDS on Non Filers of ITR

The Finance Act 2021 has introduced a new section called Section 206AB of the Income Tax Act 1961, which mandates the person paying the...

Section 194Q: TDS on Purchase of Goods

A new section 194Q introduced In the Budget 2021-22 which will be effective from 1st July 2021. To widen and deepen the tax base, it...

2 to 5% TDS on small savings if ITR not filed

The small savings rate cut has been reversed, but investors in these schemes have other problems looming on the horizon. The government has introduced new rules...

Section 194C : TDS on Payment to Contractor

Section 194C of the Income Tax Act 1961 states that any person making payment to a resident person, who is carrying out any ‘work’ in...

Frequently Asked Questions on Advance Tax

Q. Is there any compliance if an assessee revises its estimate of income for advance tax? ​​An assessee can revise the estimation of income and...

Revised TDS/TCS Rate as Applicable wef 14.05.2020

In order to increase the liquidity in the hands of common people Govt on 13th May 2020, Wednesday announced various relief measures, and among...

Clarification in respect of option under section 115BAC of the Income Tax Act,1961

The Central Board of Direct Taxes (CBDT) issued a circular on 13th April 2020 to clarify options under Section 115AC of the Income Tax...

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Taxclue
TaxClue Team

Taxclue is an online news portal for reporting all news, articles, judgments, Circulars, orders, and notifications relating to various corporate and tax laws in India. We use the tagline ‘Simplifying Laws’. Our mission is to Simplify the Laws and make people aware of their rights and duties in relation to tax matters in order to equip them to participate in nation-building.