When do we have to pay advance tax?What is a Advance Tax?
Tax shall be payable in advance during any financial year in every case      where the amount of such tax payable by the assessee during that year is Rs.10000 or more.

Instalments of advance tax and due dates:

Minimum amount payable

Due date in the [...]

Should I file taxes when my business is making losses?Are you wondering if you ever have to face the taxman when your business is making losses?  The answer is a big YES! and even better before the due date. You might want to file a tax return to set off losses of the current year [...]

How to Register with Excise?What is Excise?
An excise or excise tax (sometimes called a duty of excise or a special tax) may be defined broadly as an inland tax on the production for sale; or sale, of a specific good (Goods specifically identified at the time a contract of sale is made) or narrowly as [...]

FAQ on service tax on Construction Service

A ‘deemed service’ provision has been introduced in case of construction service w.e.f. 1-7-2010. Any industrial or commercial construction or construction of residential complex will be subject to tax if [...]

How to verify your T.D.S credits?You can now view your Form 26AS (Taxes paid) at ITR e-Filing website, without any additional login. To view the tax statement:

login in to www.incometaxindiaefiling.gov.in with their login
click on “My Accounts” -> “View Tax Credit Statement (Form 26AS)”.
Here, you should select the “assessment year”, confirm your “date of birth” [...]

How to Register with Service Tax?What is Service Tax?
Service tax is an indirect tax levied under the Finance Act, 1994, [...]

How to plan your marriage?Apart from all the excitement it brings, Getting married is the biggest plan of your life. A plan which would decide what your remaining life would look like. Once you narrow in on your wedding plans, you would do well to understand its tax implications. [...]

Save Large Non-Filing Penalties. Act today!The ministry of company affairs has come out with a Fee waiver scheme.This is a great opportunity for companies who have failed to file their annual returns with the Registrar of Companies to make their default good by filing belated documents.
Brief of the scheme
The Ministry has introduced the following [...]

Its time to get your Books of Accounts in Order!Come July, you might be asked to file your tax returns and submit financials to ROC and Investors. For some of you, you might have all your accounts finished / unfinished in excel and tally. Now it’s time to put your accounts and supporting bills together [...]

What can happen if you fail to deduct taxes at Source (T.D.S)The Revenue authorities have asked most of us to deduct taxes at source on certain payments at specified rates and remit into government revenue. If you happen to make any of these payments, you are expected to:

Apply for a TAN

Deduct tax at prescribed rates
Remit [...]