In the stock trading, Futures and Options are two popular types of financial contracts used for speculation, hedging, or investing. While they might seem complex at first, understanding them can offer investors ways to manage risk and potentially earn profits. Let’s explore what these terms mean in simple terms. What Are Futures? A Futures contract …
Section 194K of the Income Tax Act, 1961, relates to the TDS on income from mutual funds and specified units. This section primarily deals with the taxation of income earned by investors in the form of dividends and capital gains from mutual funds. If you’re an investor or an entity managing mutual funds, it’s important …
Section 194EE of the Income Tax Act, 1961, deals with the tax deduction at source (TDS) on income earned from bonds issued by the government. It specifically covers the income from the bonds of the National Savings Scheme (NSS) or similar savings schemes that pay interest to the bondholder. What is Section 194EE? Section 194EE …
Section 194E of the Income Tax Act, 1961, deals with the taxation of payments made to non-resident sportsmen and sports associations. This section ensures that tax is deducted at source on payments made to foreign sports professionals, whether they are individuals or entities. The aim is to ensure that non-residents also pay taxes on income …
In India, businesses are required to comply with tax regulations and also file various returns with the Income Tax Department. One such return is Form 27EQ which is used for reporting Tax Collected at Source (TCS). TCS refers to the tax collected by a seller from the buyer on certain goods or services, that are …
The tax deducted at source (TDS) is an essential mechanism for collecting tax. It ensures that the government receives tax payments at the source itself. Form 27Q is specifically for the quarterly return of TDS on payments made to Non-Resident Indians (NRIs) or foreign companies, such as payments for interest, royalties, and fees for technical …
Form 26QC is a tax-related form under the Income Tax Act of India. It is designed for individuals or entities who are required to deduct Tax at Source (TDS) on the rent they pay to a landlord. This form is to streamline the TDS process for rent payments and also ensure that the taxes are …
In India, Tax Deducted at Source (TDS) is a way for the government to collect tax at the source of income itself. Under this system, the payer (deductor) deducts a certain percentage of tax from the income of the payee (deductee) and remits it directly to the government. The TDS system also helps reduce tax …
India is an agricultural powerhouse, and the fertilizer sector plays a crucial role in sustaining and boosting its agricultural productivity. Fertilizers are key to enhancing soil quality, increasing crop yields, and ensuring food security. The fertilizer industry in India is vast and diverse. It consists of both public and private players who cater to the …
The diamond and jewellery sector in India is one of the country’s oldest and most lucrative industries. Globally known for its craftsmanship and rich cultural history, India has established itself as a major player in the world of gemstones and precious metals. The sector plays a vital role in the Indian economy, contributing significantly to …