Form 26QB is a payment challan which the buyer of the property needs to fill and submit to deposit the TDS amount. Income Tax Act, 1961 provides for deduction of TDS under section 194IA on purchase or sale of immovable...

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...

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...

What is Form 16 in Income Tax? Form 16 in income tax is a TDS certificate that every employer must issue to its employees under section 203 of the Income Tax Act, 1961. The employer must mandatorily issue it on...

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...

What is Form 13 in Income Tax? TDS stands for “Tax Deduction At Source”. Form 13 For TDS Deduction is an Income Tax for Lower Deduction of TDS as per Section 197 of the Income Tax Act, 1961. TDS needs...

What is Form 12B? Form 12B is an income tax form that should be submitted by an individual taxpayer who joins a new organisation in the middle of the financial year. The Rule 26A lays down the requirement for filling...

Applicability of Form 10E The income tax liability is calculated on the basis of the income earned by a taxpayer during the financial year. While calculating the income tax, the total income, expenses, deductions, and exemptions are considered. However, a...