Unless that date occurs on a Saturday, Sunday, or federal holiday, when the return is considered timely filed on the next business day, individual tax return forms (Form 1040) are due on the 15th of the fourth month following the end of the tax year (i.e., 15 April).Taxpayers who are unable to file their federal … Read More “What Is US Tax Returns?” »
What is Sec 194b of the Income Tax Act? The purpose of Sec 194b of the Income Tax Act is to provide relief to taxpayers who do not pay income tax. The different types of income that are subject to Sec 194b of the Income Tax Act include: capital gains, rent, royalties, interest, and dividends. … Read More “A Guide for Section 194b Act for Income Tax” »
A significant difference exists between the taxation rules for NRIs and resident Indians in India. Here are some important things to keep in mind: In the income tax slabs for NRIs, there are no specifics regarding gender, age, or other factors In the case of NRIs, TDS is applied regardless of their income threshold On … Read More “Taxation Rules for NRIs” »
Non-Resident Indians (NRIs) must pay certain taxes, while others are not required. Taxation can be confusing, especially when sorted by different aspects. Getting into the details of NRI Income Tax requires a complete understanding of the NRI taxation in India. Definition of NRI as per Income Tax Act, 1961 There is no direct definition of … Read More “Taxation Tips for NRIs in India” »
In what way does TDS return filing work? Tax deductors are also required to file TDS returns in addition to depositing taxes. Quarterly TDS returns must be filed with the Income Tax Department. It is important that the TDS returns are filed on time. The filing of TDS returns can be done entirely online. Form … Read More “TDS Return Filing” »
