Tax Articles

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

Tax Deducted at Source (TDS) is a type of tax that is deducted from the salary or payment that you are liable to before it is credited to your account. The amount can also be deducted from rent, interest obtain...more

Managed by the Central Board of Direct Taxes, TDS or Tax Deducted at Source forms a part of the income tax. Here, the person making a payment to the receiver is liable to deduct a percentage of the tax before m...more

Taxes are an essential part of any nation to promote its economic growth. The taxes that we pay fill the coffers of the government, which are then utilized by it to deliver various services to the country’s p...more

Medical emergencies often crop up unexpectedly. It is better to stay prepared beforehand than regret later. The same holds true for health insurance. A necessity these days, health insurance should definitely f...more

As a taxpaying Indian citizen, you might always look for different ways to reduce your taxes. You can claim tax deductions under different sections of the Income Tax Act such as 80C, 80CCC and 80CCD that will h...more

An income tax refund is an amount that you can get if you have paid a higher amount of tax against your liability to the government in any financial year. It is paid to you by the income tax department. One can...more