Tax Gyan - The Makeyourtax Blog

ITR 6 – Tax Return for companies

The month of September has started and yet another due date is fast approaching. This date is 30th September for Companies registered in India.  All Companies registered in India except companies claiming exemption under section 11(those companies whose property are held for charitable or religious purpose) are required to file their income tax returns in ITR-6. …

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FAQs on Tax Deducted at Source (TDS)

In this content we will answer some frequently asked questions on TDS. Following are the some of the FAQs which would be handy for understanding TDS.   Q. What is TDS? In simple words TDS means Tax Deducted at Source. It is one of the methods of collection of taxes. This concept was introduced to collect …

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Set Off &Carry forward of losses

We all know that a person is required to pay taxes on profits/Income earned during a financial year. But the question which arises frequently in the mind of Individuals is what if they have incurred losses during a financial year? If an Individual has profit and losses simultaneously he /she should pay taxes on the …

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Compliance for foreign remittances- 15CA /CB

So, do you need to make any payment (remittance) to a Non- resident or a foreign company? It has some legal procedures to be followed. As per the income tax act any person responsible to make a remittance to a Non- resident or a foreign company chargeable to tax has to submit form 15CA. This …

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Can you still file your ITR?

Haven’t filed your return within due date? Can it be filed after due date? In this article we will discuss about filing of return after due date and its consequences. The due date for filing of Income Tax return for Individual and HUF who are not required to get their accounts audited under Income Tax …

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All about Taxability of Gifts

Do you know that some of the expensive gifts that you receive in your marriage are subject to tax? Do you know that the house u got as gift may be subject to tax? Individuals receive gifts from their relatives or friends on different occasions. The gift so received may be taxable in the hands …

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