Daily Archives: October 7, 2018

Section 194I Income Tax TDS on Rent I Complete Guide

By | October 7, 2018

Section 194I Income Tax  TDS on Rent Section 194I Income Tax Act deals with TDS on Rent . It is to be noted that for an Individual and HUF whose turnover from business does not exceeds Rs 1 crore in case of Business and Rs 50 Lakh in case of profession during the financial year… Read More »

No TDS on Internet connectivity Charges Paid for dedicated lease line : ITAT

By | October 7, 2018

The lease line charges were paid by the assessee to the internet service provider for faster internet access on dedicated lease line and as such the said payment had been made for use of telecommunication services / connectivity for transmission of voice / data facility provided by the vendors and not for use of any… Read More »

Section 194IB Income Tax TDS on Rent w.e.f 01.06.2017 in case of Individual and HUF not liable for Audit

By | October 7, 2018

Section 194IB Income Tax TDS on Rent  [ TDS on Rent w.e.f 01.6.2017 ] [ Section 194IB of Income Tax Act – Deduction of tax at source on Rent in the case of certain Individuals and Hindu undivided family] If you are paying Rent in India , then you  must have been confused whether you… Read More »

USA IRS : Drought-stricken farmers and ranchers have more time to replace livestock

By | October 7, 2018

Drought-stricken farmers and ranchers have more time to replace livestock Farmers and ranchers who were forced to sell livestock due to drought may get extra time to replace the livestock and defer tax on any gains from the forced sales. Here are some facts about this to help farmers understand how the deferral works and… Read More »

USA IRS : Information to help taxpayers understand the different tax filing statuses to file your taxes

By | October 7, 2018

Information to help taxpayers understand the different tax filing statuses to file your taxes   Taxpayers usually do not think about their marital status until they file their taxes. However, the marital status of a taxpayer could change during the year, so it is always a good time for a taxpayer to know the different… Read More »

USA IRS : IRS issues guidance on changes in Employment Law and Tax Reduction deductions for business expenses for meals – entertainment

By | October 7, 2018

IRS issues guidance on changes in Employment Law and Tax Reduction deductions for business expenses for meals, entertainment WASHINGTON – The Internal Revenue Service, IRS today issued guidelines on the deduction of business expenses for meals and entertainment, after changes in Employment Law and Tax Reduction (TCJA). The TCJA 2017, eliminated the deduction for any… Read More »

USA IRS : Taxpayers who haven’t checked their withholding  should use the Withholding Calculator ASAP

By | October 7, 2018

Taxpayers who haven’t checked their withholding  should use the Withholding Calculator ASAP The IRS recommends taxpayers use the Withholding Calculator to do a “Paycheck Checkup” as soon as possible. This will help taxpayers check that they are having the correct amount of income tax withheld from their paychecks. Earlier this year the IRS updated the Withholding Calculator… Read More »

USA IRS : Here are facts to help taxpayers understand the different filing statuses

By | October 7, 2018

Here are facts to help taxpayers understand the different filing statuses   Taxpayers don’t typically think about their filing status until they file their taxes. However, a taxpayer’s status could change during the year, so it’s always a good time for a taxpayer to learn about the different filing statuses and which one they should use.… Read More »