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T.D.S ON SALE OF IMMOVABLE PROPERTY 2022

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Section - 194IA, Income-tax Act, 1961-2022 Payment on transfer of certain immovable property other than agricultural land. 1.   194-IA.  (1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land), shall, at the time of credit of such sum to the account of the transferor or at the time of payment of such sum in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier,  deduct an amount equal to one   percent  of such sum   [or the stamp duty value of such property, whichever is higher , ]  as income-tax thereon. (2) No deduction under sub-section (1) shall be made where the consideration for the transfer of an   [ immovable property and the stamp duty value of such property, are both, ]   less than fifty   lakh rupees. ...
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Top 10 ITR Filing Documents

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Your Comprehensive ITR Filing Checklist: Top 10 Documents for Tax Filing Success It’s that time of the year again – tax season is upon us! As you gear up to file your Income Tax Return (ITR), having a well-organized checklist of essential documents is key to a smooth and stress-free filing process. Let’s delve into the top 10 documents and best practices that make up your ITR filing essentials. 1. PAN Card: The cornerstone of your tax identity, ensure your Permanent Account Number (PAN) card is readily available. It’s a must-have for all tax-related transactions. 2. Form 16 – Your Salaried Lifeline: For employed individuals, Form 16 is your go-to document. Issued by your employer, it provides a detailed summary of your salary, deductions, and TDS (Tax Deducted at Source). 3. Bank Statements: Compile comprehensive statements from all your bank accounts. These statements serve as a financial trail, validating your income and expenditure. 4. Investment Proofs: Gather do...
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15 Benefits of Investing in the United States-2023

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  15 Benefits of Investing in the United States:   1. Large and diverse economy: The United States has the largest economy in the world, with a GDP of over $20 trillion. It is also one of the most diverse economies, with industries ranging from technology and finance to agriculture and manufacturing. This diversity provides investors with a wide range of opportunities across different sectors and industries. Additionally, the US economy is known for its resilience and ability to recover quickly from economic downturns, providing a level of stability for investors. 2. Strong currency: The US dollar is considered a strong currency and is widely used as a reserve currency around the world. This means that it is widely accepted and in demand, providing investors with a level of security when conducting transactions. Additionally, the US dollar is relatively stable in comparison to other currencies, which can help to mitigate the risks associated with currency fluctuations. This ca...
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