Income Tax Guides

salary slip

Salary Slip

What is Salary Slip? A salary slip or payslip is a document issued monthly by an employer to its employees. A salary slip contains a detailed breakdown of employee salary and deductions for a given period. This document can be either...

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Form 16B – TDS Certificate For Sale of Property

As per the provisions of the income tax act, every person is required to file an income tax return within the specified time and report their income details. The process of tax collection is done via two ways - tax...

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Difference Between Form 16 and Form 16A

Many times we as taxpayers get confused between Form 16 and Form 16A. An employer issues Form 16 to its employees while other deductors issue Form 16A. However, both differ in their purpose, information regarding TDS and salary or other...

form 26as

Guide to Form 26AS

Form 26AS or Tax Credit Statement is one of the most important tax documents for any taxpayer. It truly reflects how much tax you have paid to the Income Tax Department either by yourself or through other taxpayers.  With effect...

itr 2

ITR 2 Form

The applicability of ITR 2 depends on the category of the taxpayer and the source of income. ITR 2 is applicable only to individuals and HUFs who do not have any income from business or profession. You can file ITR...

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tax on rd

Income Tax on Recurring Deposit (RD)

Recurring deposits or RDs are similar to FDs; however, they are more flexible than FDs. Investors can invest a certain amount every month into their RD account from their savings bank account. Investors will receive guaranteed interest from banks which...

form 15h

Form 15H – TDS on Interest Income

Form 15H is a very popular form among investors and taxpayers. To avoid deduction of TDS from your interest income you can surely opt for this route. You can avoid TDS on interest income, rental income, insurance commission, insurance maturity...

tds on salary

TDS on Salary Under Income Tax Act, 1961

Section 192 of the Income Tax Act, 1961 provides for TDS on salary income earned by an employee and paid by an employer. The employer deducts tax deducted at source while paying or crediting the salary income to the employer....