by Sinewave Team | Jul 25, 2024 | Taxation
EPF i.e. Employee’s Provident Fund is a retirement fund saving scheme for salaried employees. 12% of the employee’s basic salary is contributed to the EPF account on a monthly basis by the employer. Even employee has an option to make self-contribution to this...
by Sinewave Team | Jul 24, 2024 | Taxation
Section 80GG of the Income Tax Act, 1961, in India provides a deduction for individuals paying rent for house properties. This deduction is particularly available for those who do not receive House Rent Allowance (HRA) from their employer. Form 10BA is the declaration...
by Sinewave Team | Jul 23, 2024 | Taxation
TDS is a compliance where many taxpayers face numerous issues and complexities. It is possible that the TDS deducted from the taxpayer’s income is more than what they are liable to pay. The provisions contained in Section 197 of the Income Tax Act, permit...
by Sinewave Team | Jul 22, 2024 | Taxation
Many individuals, businesses or entities are situated outside India but they have certain incomes arising in India. For foreign nationals or businesses situated outside India, provisions of Double Taxation Avoidance Agreements(DTAA) are applied and to comply with the...
by Sinewave Team | Jul 21, 2024 | Taxation
Non-resident Indians always end up in a confusing task about managing their finances especially earnings and investments, from outside India. Among the many options available, two types of bank accounts stand out for their unique benefits and specific purposes: the...
by Sinewave Team | Jul 20, 2024 | Taxation
Every taxpayer is looking for ways to save their taxes as taxes acts a pinch to taxpayer’s pocket. In search of these ways to save taxes, income tax department has given certain specific exemptions in income tax on particular incomes. Section 10 of the Income Tax Act,...
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