The Finance Act 2013-14 introduced TDS on Payment on transfer of certain immovable property other than agricultural land at the rate of 1% where the consideration for the transfer of an immovable property is Rs.50 Lakhs or above u/s 194IA.
In the case of Individuals OR HUF, with income more than Rs. 50 lakh a year, a Schedule of Assets and Liabilities, has to be provided with details such as description and address of immovable […]
From July’17 with the introduction of GST the Real Estate is becoming costlier with higher tax. Air conditioners and Refrigerators are becoming costlier post GST as they are coming under the tax bracket of 28%. […]
After launching the ambitious e-nivaran facility for online redressal of taxpayers/ grievances, the income-tax (I-T) department has now opened these windows at its 60 special offices across the country. The facility will soon be launched […]
Do not take unusual excuses which the British Governments Tax Collector would receive generally from the Customers who fails to file their return in time such as “My tax return was on my yacht … which caught fire” “A wasp in my car caused me to have an accident and my tax return, which was inside, was destroyed,” was another, . “My wife helps me with my tax return, but she had headache for 10 days” while several blamed children, partners or colleagues for inadvertently destroying their forms.
No VAT on items sold at a discount of 40% or above in India. Update from National Consumer Disputes Redressal Commission