Income Tax
Self-Employed Taxes in India: What You Need to Know
Self-Employed Taxes in India: What You Need to Know Introduction: Being self-employed in India comes with numerous benefits and opportunities. However, it also entails additional responsibilities when it comes to taxes. Understanding the tax ...
Exploring Different Income Tax Filing Methods
Introduction: When it comes to filing income tax returns, individuals have various options to choose from. The method you select depends on your comfort level, financial situation, and the complexity of your tax return. In this blog, we will explore ...
The Benefits of Hiring a Professional for Income Tax Filing
Introduction: Filing income tax returns can be a complex and time-consuming process. As tax laws and regulations continually evolve, it becomes increasingly challenging for individuals to navigate the intricacies of tax preparation accurately. That's ...
Common Mistakes to Avoid When Filing Income Tax
Introduction: Filing income tax returns can be a daunting task, but it's a crucial responsibility for every taxpayer. Avoiding common mistakes can save you from unnecessary headaches, potential penalties, and ensure a smooth tax filing process. In ...
Tax Deductions and Credits: Maximizing Your Returns in India
Introduction: When it comes to income tax filing in India, understanding the various deductions and credits available can significantly impact your tax liability and ultimately maximize your returns. By taking advantage of these provisions, you can ...
Essential Documents for Income Tax Filing
Essential Documents for Income Tax Filing in India: A Comprehensive Guide Introduction: Filing income tax returns is a critical responsibility for individuals and businesses in India. To ensure a smooth and hassle-free tax filing process, it is ...
Understanding the Basics of Income Tax Filing
Introduction: Filing income taxes is an essential responsibility for individuals and businesses alike. However, the world of income tax can often seem confusing and overwhelming. Understanding the basics of income tax filing is crucial to ensure ...
Income Tax Filing For Salaried Individuals In India
In India, income tax filing is an essential responsibility for every salaried individual. It is a legal obligation imposed by the government to ensure proper collection of taxes for the development and functioning of the nation. Filing income tax ...
TDS (Tax Deducted at Source) return filing in India
Full form of TDS is Tax Deducted at Source. You may have experienced TDS in many forms - Bank FDs, salary payments to vendor payments, and TDS seem to infiltrate everywhere. Normally, TDS means an advance tax withheld by the payor from your income, ...
Maximize Your Tax Refunds: Essential Tips for Income Tax Return Filing
Introduction: Filing your income tax return is a crucial annual task that can significantly impact your financial well-being. While it may seem like a daunting process, being well-informed and employing smart strategies can help you maximize your tax ...
Income tax return filing deadline in India
Introduction Filing income tax returns is a crucial obligation for individuals and entities in India. It helps in ensuring compliance with tax laws and plays a vital role in the country's revenue collection. Understanding the income tax return filing ...
Annual compliances in India
In India, businesses are required to comply with various annual compliances to ensure legal and regulatory adherence. The specific compliances vary based on the type of entity, industry, and applicable laws. However, here are some common annual ...
How to file income tax return in India
Filing income tax returns is a crucial responsibility for every taxpayer in India. It helps ensure compliance with the tax laws and facilitates the assessment of an individual's tax liability. This article aims to provide a step-by-step guide on how ...
Compliance with Income Tax Act in India
Compliance with Income Tax Act in India Compliance with the Income Tax Act in India involves adhering to various provisions, rules, and regulations related to income tax payments, deductions, filing of tax returns, and maintaining proper records. ...
Tax Audit In India
The term ‘audit’ refers to a check, review, verification or inspection of a record, transaction, account etc. A tax audit is the process of verification and inspection of the accounts of a taxpayer to confirm their adherence to the provisions of the ...
Charitable Trusts and NGO – Income tax benefits
Charitable Trusts and NGO – Income Tax Benefits Did you know charitable deeds and compassion can help you save tax? Section 80G of the Indian Income tax Act provides provisions for that. As per 80G, you can deduct your donations to Central and State ...
How to File ITR Form 6 Online for Companies
Income Tax Return Form 6 Companies other than companies claiming exemption under section 11 must furnish their income tax return in ITR-6 Form. Budget 2021 update :Taxpayers need to pay advance tax on dividend income only after the declaration or ...
How to file Income Tax Return Form 5 Online
Income Tax Return Form 5 This income tax return is meant for firms, LLPs, AOPs (Association of persons) and BOIs (Body of Individuals), Artificial Juridical Person (AJP), Estate of deceased, Estate of insolvent, Business trust and investment fund Who ...
Income Tax Deduction Under Section 80D
What is Section 80D A person can claim a deduction for the health insurance premium and expense incurred towards preventive health checkup for self, spouse, dependent children and parents. This is-subject to the terms and conditions mentioned in the ...
TDS on Salary
TDS on Salary under Section 192 Section 192 of the Income Tax Act, 1961 deals with tax deducted at source (TDS) on salary. Your employer will deduct TDS from the salary payable to you. The salary you receive from your employer is categorised in ...
Steps to Pay Income Tax Online
Pay Income Tax Online The Process of tax payment has become easier as it can be made online now. Visit the official website in order to make your income tax payment online. First, choose Challan 280, then enter your personal information, review the ...
How To Pay Income Tax Online
Pay Income Tax Online The Process of tax payment has become easier as it can be made online now. Visit the official website in order to make your income tax payment online. First, choose Challan 280, then enter your personal information, review the ...
ITR Login - How to File Income Tax Return
ITR Login - How to File Income Tax Return The Process to file Income Tax Returns (ITR) by using the internet is called E-filing. The process to e-file ITR is quick, easy, and can be completed from the comfort of an individual's home or office. ...
Income Tax Refund Status
The Income Tax Department offers an online facility for tracking your Income Tax Refund and its status. Taxpayers can view the status of refund 10 days after their refund has been sent. It is important to know the PAN and assessment year in order to ...
Online Income Tax Return Filing India
An income tax return is a form that enables a taxpayer to declare his income, expenses, tax deductions, investments, taxes, etc. The Income Tax Act, of 1961 makes it mandatory under various scenarios for a taxpayer to file an income tax return. An ...
TDS or Withholding Tax on Youtube Income
Google May Withhold Taxes From Non-US YouTube Creator Google will soon be required to withhold taxes on YouTube earnings generated from viewers in the United States. This change is going into effect as early as June. How much tax is withheld from ...
How To File Your Partnership Firm Income Tax Return
How To File Your Partnership Firm Income Tax Return What is the tax rate for a partnership firm? A partnership firm is required to file a partnership firm income tax return under the Income Tax Act,1961. Partnership firms are liable to pay income tax ...
Income Tax Filing for Proprietorship Firms
How to File Income Tax Return for Proprietorship Firms Any individual who has business income is said to be operating a proprietorship firm. Proprietorships operating in India are required to file income tax return each year. Since proprietorships ...
Income Tax Filing for Companies
Income Tax Filing for Companies: How to File Taxes Online All businesses operating in India are required to file income tax return each year. In addition to filing income tax return, a business may also be required to file TDS return and pay advance ...
File Income Tax Return Online India
File Income Tax Return Online India An income tax return is a form that enables a taxpayer to declare his income, expenses, tax deductions, investments, taxes, etc. The Income Tax Act, of 1961 makes it mandatory under various scenarios for a taxpayer ...
Income Tax Law & Compliances in India
Income tax is a direct tax that you are supposed to pay to the Indian Government if you earn an income in India. Whether you are an Indian citizen or an NRI, any income generated in India is taxable as per the Indian Income Tax Act passed in 1961. ...
What is the Full Form of PAN Card?
PAN full form is a permanent account number and is a unique code allocated to taxpayers in India. The Central Board of Direct Taxes supervises PAN. PAN is considered a national identity proof and is mandatory for all professionals or salaried people. ...
Income Tax Slabs For AY 2021 22
The financial world keeps changing to adapt to the evolution in the world, this also means that something new is always happening without individuals being aware of it. The idea behind income tax is something that is well understood by those parts of ...
Income Tax Refund Not Received Yet - Status Check
You require to ensure that you filed the right details of the bank account during filing your return of income tax. A person can check the status of the refund of income tax online through two methods. On the official website of Income Tax India ...
How to Pay Income Tax Online Steps?
Step-1 To pay taxes online, log in to http://www.tin-nsdl.com > Services > e-payment: Pay Taxes Online or click the tab "e-pay taxes" provided on the said website. Provide a proper link of e-payment Step-2 Select the relevant challan i.e. ITNS 280, ...
Income Tax Payment Online Steps for TaxPayers
Pay Tax Online Step-1 To pay taxes online, log in to http://www.tin-nsdl.com > Services > e-payment: Pay Taxes Online or click the tab "e-pay taxes" provided on the said website. Provide a proper link of e-payment Step-2 Select the relevant challan ...
How To File Income Tax Return on Income Tax Portal?
Nothing proves your financial wisdom and ethics like tax compliance – timely filing of ITR. Filing your income tax return is not as difficult as it sounds. Here is a step-by-step guide to e-file your income tax return using ClearTax. It is simple, ...
Income Tax Due Date Extension Notification
After extending the due date of filing an Income Tax Return (ITR) by months in the last two assessment years – mainly due to the COVID-19 pandemic – the Income Tax Department this time is trying to put things in place by sticking to the original due ...
What is the Last Date to File Income Tax Return?
What are the due dates of Income Tax Return Filing for AY 2022-23? For Individuals and HUFs - the due date for filing their income tax returns for financial year 2021-22 (AY 2022-23) are as follows: Category of Taxpayer Due Date for Tax Filing- AY ...
How To Pay Advance Tax Payment Online?
As per the nature of taxes, you earn your income first and then pay taxes. However, in case of advance taxes, you pay your estimated tax liability before the end of a financial year. That said, you are eligible to pay advance tax only if you receive ...
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