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Small business owners spend most of their time and energy in making their business big and successful. Regular tax assessment and maintaining account books are a costly and tedious affair for them. Section 44AD...more

Section 194H of the Income Tax Act is levied on income through commission, except commissions on insurance sales. TDS deduction rate Currently, 5% TDS is applied on a payment without any surcharge or education-...more

Section 194A of the Income Tax Act (IT Act) covers tax deducted at source (TDS) on the interests accrued on fixed deposits and other financial instruments, except securities. Interest payments made to non-resid...more

Section 194C of the Income Tax Act is tax deducted at source (TDS), that is, from payments you receive if you fall under the “contractors” or “subcontractors” category. So, the entity paying you must de...more

Under Section 80DDB, you can claim tax deductions for yourself or your spouse, children, parents or other dependant family members of the Hindu Undivided Family (HUF) towards treatment costs for specific ailmen...more

House rent can be a huge part of one's regular expenditure. For most salaried people, the HRA (house rent allowance) paid by the employer helps in meeting the rents. The Income Tax (IT) Act has provisions to cl...more