ITR-U Updated Income Tax Return – Complete Detail

Income Tax Updated Return (ITR-U) For the persons to update income within 24 months from the end of the relevant assessment year Why ITR-U  The department has provided the additional time of 24 months to file an updated return whether you have filed income tax return previously or not. So, you can say that there … Read more

GST Return Filing Service – Error & Hassle Free GST Filing

Hiring a dedicated GST expert should be simple Choose your plan, GST expert will call you and get all the business detail. We’ll take care of all GST returns. Fixed monthly rate for unlimited advice for GST related queries on call. See Pricing Hassle-Free GST Filing Service All GST Returns Filing GSTR-2A Matching Error-Free GST … Read more

How to File Income Tax Return Without Form 16?

Form 16 is a certificate issued by employer for the TDS deducted by employer on the salary of the employee. The employer has to issue the Form 16 once in a year on before 31st May of the next year immediately following the financial year in which the TDS is deducted. Form 16 is a … Read more

GST Calendar March 2022 – GST Compliances Due Dates

GST Calendar March 2022: This page is about to list all due dates for GST Compliances for the month of March 2022. Please check the below table to find the due dates for GST compliances in the month of March 2022. The tax consultants and taxpayers registered under GST should complete all the formalities before … Read more

How Much Does it Cost to Set up a Company?

Whenever a person has a business idea, he also has to think of its cost to set up it. Generally, people think of setting up a company as it has some advantages. The cost of setting up a company is to be analyzed before setting up it. The cost of setting up a business depends … Read more

Interest 234A under Income Tax Act

In case of income tax return is filed after the specified due date or is not filed at all, simple interest is payable on the amount of tax assessed as reduced by the amount of advance tax paid, TDS/TCS. The interest rate is @1% for every month (or part of the month) of delay, i.e. … Read more

Depreciation Rates Under Income Tax Act

Most Common Used Asset Depreciation Rates Depreciation Rates as Per Income Tax Act This depreciation table is application from A.Y.2018-19 onwards. Notes : 1. Buildings include roads, bridges, culverts, wells and tube wells. 2. A building shall be deemed to be a building used mainly for residential purposes, if the built-up floor area thereof used … Read more

SBI PPF Interest Rate & Maturity Period

The State Bank of India offers the option to invest in PPF to existing users and new users of its bank. The channel is aimed to create a habit of savings among the people of India, along with creating a reliable pool of investment which can be used by the banks from time to time. … Read more

5 Benefits to Open PPF in SBI

The SBI PPF account is one of the smartest ways to save tax and build a steady habit of savings. Apart from that, the SBI PPF account offers numerous benefits to the account holders which includes appointing a nominee and transferring the PPF account to some other banks as well. Given such credibility, it is … Read more

How to Open PPF Account in SBI?

Today, the PPF account has become an important consideration for every individual who has a source of income. The facility of PPF not only offers an individual with the benefit of making savings on a regular basis, but also allows a person to save taxes. One of the most recognized ways to invest in PPF … Read more

Paid Life Insurance Premium! Remember to Claim Tax Benefits

Life insurance premium protects one’s life as well as it is a great tool for tax planning.It helps to save tax. Life insurance premium is the amount paid by a person for buying a insurance policy. The life insurance company provides a lump sum amount at the end of term which is called maturity in … Read more

LIC Tax Deductions & Benefits (A.Y.2022-23 & A.Y.2021-22)

The first thing comes in our mind is LIC (Life Insurance Premium) or LIP whenever we talk about deduction under section 80C. But you all know it is only one of the part or deduction along with other deductions comes under section 80C. Life Insurance Premium paid on the life insurance policies issued by LIC … Read more

Tax Benefits When Car is Provided by Employer to Employee

We can see this generally that company is providing cars to its employees for doing the official duties. These cars are generally provided by the employer of your company and are used by employees. Cars are used for both official and personal purposes. Employees get confused about the tax-ability of owning car and leasing a … Read more

Free Income Tax Ready Reckoner A.Y.2022-23 & A.Y.2021-22

Free Income Tax Ready Reckoner A.Y.2022-23 & A.Y.2021-22 Income Tax Rates – Individuals Income Tax Rates – Partnership Firms Income Tax Rates – Companies Capital Gains Tax Rates Cost Inflation Index List of Exemption Available in Computation of Capital Gains TDS Rates TCS Rates Depreciation Chart – Income Tax Act Interest Payable Chart – Income … Read more

Preparing to File Your Income Tax Return for A.Y. 2019-20

The season for filing income tax returns (ITR) is gathering pace as the due date of 31st July is approaching for the majority of taxpayers. Before you actually sit down to file your ITR or visit the office of your tax advisors, you need to do some ground preparation so that the information given in … Read more

Waiver & Interest on Excess Payment of Advance Tax

As we are liable to pay interest u/s 234A, 234B and 234C for late payment or non payment of advance tax. In the similar manner the Government is also liable to pay interest if we pay advance tax more than due. But there is huge difference of interest rate in the case of Government liability. … Read more

Complete Guide to File Income Tax Return for A.Y. 2019-20

How to Pay Income Tax Online? ePayment of Income Tax | Easy Steps! How to File Income Tax Return Online for A.Y. 2019-20? How to File Income Tax Return Without Form 16? Due Dates to File Income Tax Return for A.Y.2019-20 Never Forget to Consider Interest Income in Income Tax Return How to Reset Password … Read more

6 Most Common Questions on Tax Audit – All Clarified

Q.1) What is tax audit? The dictionary meaning of the term “audit” is check, review, inspection, etc. There are various types of audits prescribed under different laws like company law requires a company audit, cost accounting law requires a cost audit, etc. The Income-tax Law requires the taxpayer to get the audit of the accounts … Read more