Devashree Patel

Devashree is an adventurous spirit who enjoys the brainy buzz of finance, the yummy vibes of good food, and the awesomeness of nature. She is passionate about delving into complex financial topics and purifying them into easy-to-understand insights. When she's not pouring over financial stuff, you might find her uncovering hidden gems in the city, munching on new foods, or just chilling under the stars.

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gst interest rate for late payment

GST Late Fees: Interest on late payment of GST

Knowing about GST late fees is as crucial as learning about GST registration, types and compliance rules. Just like any tax, the Goods and Services Tax (GST) returns also have to be filed on or before a prescribed date. However,...

40a(3) of income tax act

Section 40A(3) of Income Tax Act

If you have made a payment of more than ₹10,000, to a person in a single day, you need to understand the Section 40A(3) of Income Tax Act. This act would apply for a single payment or multiple payments made,...

206c section of income tax act

Section 206C of Income Tax Act

A seller of goods and services might be aware of Tax Collection at Source (TCS). If so, they might also be aware of 206C.  Section 206C of the Income Tax Act can help an individual understand everything about TCS. As...

sec 80jjaa of income tax act

80JJAA of the Income Tax Act

Section 80JJAA of the Income Tax Act provides formal sector employers tax deductions on their business income. This deduction is also known as the 80JJAA deduction. 80JJAA of the Income Tax Act is a special provision formed to encourage employers...

Type of ITR forms

Types of ITR Form and What type of ITR applies to me ? 

Whenever one talks about income, paying taxes and filing income tax returns are important components.  Income Tax Return or ITR can be filed with the help of a form in which one can disclose their earned income and the resulting...

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What is condonation request?

Steps for Filing Condonation Request for ITR Verification Delay

If someone has failed to file your Income Tax Returns (ITR) or has failed to e-verify before the due date, filing a condonation request can be helpful.  Condonation Request Meaning  In India, the annual deadline for filing ITR is July...

What is mat in income tax and full form of mat

Minimum Alternate Tax (MAT) in Income Tax

MAT tax, or Minimum Alternate Tax, ensures that enterprises pay a minimum tax amount to the Government of India (GoI). MAT income tax was introduced by the Finance Act 1996.  The current MAT tax provisions were introduced in Finance (No.2)...

Section 269ss of income tax act

Section 269SS of the Income Tax Act

Section 269SS of the Income Tax Act is about cash deposits, loan repayment or specific account deposits. It acts like a watchdog for tax evasion using unfair means like cash deposits and concealing deposit information on the face of loan...