Financeistic

02/06/2024

Form 10BD is an income tax form where an entity like a charitable institution including a trust, college, school, research institution or university submit this form for donations they have received. Such organizations are required to apportion their monies as stipulated under section 35(1A)(i) and 80G(5)(viii).

Form 10BD is an income tax form where an entity like a charitable institution submit this form for donations they have received.

27/05/2024

Section 10(14)(i) of the Income Tax Act, 1961, plays a important role in determining which allowances and perquisites provided by an employer are exempt from an employee's taxable income. This section specifically address the allowances and perquisites given to employees to cover expenses incurred for performing their job duties. This section allows you to reduce your taxable income by the amount you spend on performing your job duties, as long as your employer provides a specific allowance for those expenses. In this article, we will explore the details of section 10(14)(i) of the Income Tax Act and its implications.

Section 10(14)(i) of the Income Tax Act, 1961, plays a important role in determining which allowances and perks are exempt from taxable income.

08/04/2024

As people enter their retirement years, it is important to manage the money smartly including dealing with taxes. In India, individual aged 60 and above is called senior citizens and can enjoy several tax benefits. These benefits can reduce tax liability and improve the financial security during retirement. In this article we will explore tax benefits for senior citizens in India in 2024 under the Income Tax Act, 1961.

In this article we will explore tax benefits for senior citizens in India in 2024 under the Income Tax Act, 1961.

29/03/2024

Here we will explore that is sukanya samriddhi yojana tax free in India, Interest rate and how to apply for SSY.

24/03/2024

SEBI guidelines for IPO allotment is important when a private company chooses to become publicly traded known as an Initial Public Offering (IPO).

23/03/2024

If you prefer a secure way to grow your savings without market fluctuations, It is essential to know about the highest FD interest rates 2024 in India.

21/03/2024

Here we will explore the essential permissions, registration and license required for food delivery business in India.

19/03/2024

An LLP is mix of features of partnerships and private limited companies. It protects partners from personal responsibility for the LLP’s debts. This setup is great for medium businesses as it keeps partners’ assets safe. The procedure for appointment of designated partner in LLP involves a few steps to ensure the proper designation of individuals to take on specific responsibilities within the LLP.

The procedure for appointment of designated partner in LLP involves a few steps to ensure the proper designation of individuals in LLP.

17/03/2024

What is 16 and 16A?

Forms 16 and 16A are important documents for taxpayers because they are required to calculate their tax liability and file accurate income tax returns. People often get confused between the two forms because they are almost for similar purposes. In this article, we will explore form 16 and 16A, and difference between them.

Form 16 and 16A are important documents for taxpayers because they are required to calculate their tax liability and file accurate ITR.

16/03/2024

How do I make corrections in a TDS return online?
TDS (Tax Deducted at Source) aims to collect the tax on income when it is earned. However, TDS return filings can be tricky, and mistakes are common in such processes. Hence, the Income Tax Department allows you to correct TDS returns to address these mistakes made in the original return. These corrections can range from minor typos to significant calculation errors. By correcting these errors, taxpayers ensure their TDS returns are accurate. Let’s explore the different types of errors in TDS returns and how to rectify them.

In this article, we will explore the different types of correction in TDS return and how to track them properly.