Difference Between Financial Year And Assessment Year
Many people get confused between AY (Assessment Year) and FY (Financial Year). Often, they consider... Read More »
Section 80CCG: Rajiv Gandhi Equity Savings Scheme (RGESS) Deduction Amount & Eligibility
Section 80CCG of the Income Tax Act, also known as the Rajeev Gandhi Equity Savings Scheme (RGESS) ... Read More »
How To Save Income Tax Under Various Sections Of The Income Tax Act
Tax planning is the most effective way to raise your net income and reduce your tax liability. The ... Read More »
Section 24Q: How To Download & Fill Form 24Q
What is Form 24Q? While making salary payments to employees, an employer deducts TDS under Secti... Read More »
Tax Implications Of Provident Fund & How To Save Tax
Provident Fund or PF is a tax-saving retirement scheme that offers a safety net upon retirement to ... Read More »
How to File TDS Returns Online: A Step-By-Step Guide
Tax deducted at Source (TDS) is a mechanism under which tax deduction takes place at the time of pa... Read More »
What are Capital Gains Tax: Types, Rates and Exemption
Gains or profit that you receive by selling a capital asset is termed capital gains. The amount is ... Read More »
Section 153 Of The Income Tax Act: Assessments And Reassessments
Every financial year, an assessing officer (AO) has to conduct an assessment of the income revealed... Read More »
Section 40b Of The IT Act: Remuneration To Partners, Calculating Book Profit And More
Section 40b of the Income Tax Act, 1961 specifies the maximum limit of interest on capital and remu... Read More »
Tax Benefits For Senior Citizens: Eligibility, List Of Benefits And More
Senior citizens have multiple sources of revenue. It includes pension, reverse mortgage, fixed depo... Read More »
Section 194DA Of The Income Tax Act: Meaning, Eligibility And Rate Of TDS
To ensure financial security at the time of adversity, people get insurance for themselves and thei... Read More »
A Guide For Setting Off And Carrying Forward Capital Losses
When your returns from selling capital assets are less than the cost of acquisition and transfer ex... Read More »
Section 80GGC Of The Income Tax Act: Features, Eligibility And Exceptions
The Indian government introduced Section 80GGC of the Income Tax Act to protect the inter... Read More »
All You Need To Know About Tax On Savings Bank Account Interest
As the name suggests, a savings account is meant to encourage people to save money and deposit thei... Read More »
Section 194C: TDS On Advertisement
Any payment made to an advertising agency (contractor) is liable for a TDS under section 194C. Here... Read More »
Hindu Undivided Family Tax Benefits
In India, there are many undivided families of Hindu ethnicity. However, most Indians are unaware o... Read More »
Section 80TTB of the Income Tax Act: Meaning, Eligibility And Exceptions
Senior citizens already have to deal with mental and physical health issues that cause financial st... Read More »
Section 80JJAA Of The Income Tax Act: Meaning, Eligibility And More
The government introduced Section 80JJAA of the Income Tax Act to provide relief to entit... Read More »
Tax Saving Options Other Than Section 80C Of The Income Tax Act
Section 80C of the Income Tax Act helps to minimise the tax burden of Indian citizens. Taxpayers hi... Read More »
Section 194O of the Income Tax Act: Meaning, Exceptions And TDS Deductions
The Union Budget 2020 has introduced Section 194O to the Income Tax Act, 1961. As per the provision... Read More »
Double Taxation: Definition, Types and Tips To Avoid It
Taxation is a crucial source of revenue for the government. However, in some cases, your profit or ... Read More »
Income Tax Rebate: Eligibility And Types Of Tax Rebates In India
When the direct tax that you pay is more than your tax liability, you receive a refund, which is kn... Read More »
How To Use Challan 280 To File Income Tax?
Challan 280, also called ITNS No. 280, refers to a form used to pay income tax. Individuals can use... Read More »
Income Tax Return Filing: Due Dates And Penalties
The Central Board of Direct Taxes (CBDT) sets the due date for filing ITR and audit reports, and th... Read More »