How to Apply for Voter ID Card online – A Step by Step Guide

For a country like India, a Voter ID card serves as an important document of identification. Irrespective of whether you are buying a new sim card or buying a house, Voter ID card is a must. The Election Commission of India (ECI) has recently simplified the process to register for Voter ID cards by taking … Read more

Deduction 24 From House Property Income

Deduction 24 From House Property Income: You can get tax exemptions on specific investments and expenditures under several sections of the Income Tax Act. The Act constantly stresses the importance of residential property and property as an investment. A lot of investments towards your first home can get lots of income tax deductions (Section 24, … Read more

Account Books Required to Maintain under Income Tax & GST Act

The Income Tax Act and the Goods and Services Act (GST) both contain different provisions regarding the maintenance of books of accounts, respectively. It is common for people to keep records of their daily expenses and incomes. In accordance with the Income Tax Act, some individuals are required to keep and maintain records of daily … Read more

Save Tax in F.Y.2022-23 (A.Y.2023-24) by Investing Efficiently

With the Budget 2022 implemented in the country, who doesn’t want to reduce their payment of tax? “No one” is the straightforward answer to this question. In the present economy where inflation rules the country, everyone wants to have more money in their pockets and safe custody so that they can use it in future. … Read more

Tax Benefits & Exemptions Under Startup India Plan

The Startup India campaign has been one of the most remarkable developments which India has seen recently. The Union Government has ensured that blooming buds in the nation are given a chance to prove themselves and strengthen the Indian economy. With an allocated fund of INR 10000 crore, the initiative will allow thousands of Indians … Read more

6 Features of Startup India Campaign – You Must Know!

Everyone is very excited about the Startup India campaign, which was announced on January 16 2016. This campaign has brought in a lot of hope for people who are looking forward to bringing a new revolution to the commercial market of India. With a special place for innovation and development, Startup India looks forward to … Read more

Startup India Program: Registration, Eligibility, Benefits

We have all come across the celebrated campaign of “Startup India” which was launched by the Prime Minister of India, Narendra Modi on January 16 2016. The campaign intends to support entrepreneurs who have the skills but lack financial resources. A separate fund of INR 10000 crore has been sanctioned for this campaign. However, if … Read more

Check Income Tax Refund Status Online – Step by Step

Check Income Tax Refund Status Online: As you all know to get an income tax refund, we have to file an income tax return by showing the excess tax paid or excess TDS deposited or excess advance tax payment as the case may be. The income Tax department on the basis of the return file … Read more

Deduction 80CCD, 80CCD(1), 80CCD(1B), 80CCD(2) of Income Tax Act

Deduction 80CCD – Deduction for NPS (National Pension Scheme) A.Y. 2022-23: The Income Tax Department of India offers a deduction of 80CCD to taxpayers for making contributions towards the National Pension Scheme (NPS) or the Atal Pension Yojana (APY). The deduction is availed under Section 80CCD and is available only to individuals. This section also … Read more

Tax Deduction 80DD for Medical Treatment of Disabled Dependent

Deduction u/s 80DD: Individuals or HUFs are permitted to deduct expenses for dependants who are differently abled and who are entirely dependent on them for support and maintenance under Section 80DD. A deduction is available to families of disabled persons under Section 80DD in order to support a disabled dependent. The families of disabled dependents … Read more

Tax Deduction of Preventive Health Check Up

The best way to prevent diseases and complications is to have regular Preventive Health Checkups. Therefore, the purpose of a Preventive Health Checkup is to identify and minimize such risks as early as possible. By detecting potential health issues early, preventive checkups can reduce the financial burden of healthcare by reducing the cost of healthcare … Read more

6 Sure Shot Ways to Get Income Tax Refund Fast

Sometimes getting back your Income Tax Refund can be a little difficult for taxpayers. This is mainly because taxpayers do insist on paying taxes, but they often miss out on filing the right type of return/ filing return on time. Here are 8 certain ways which will help you to get your Income Tax Refund … Read more

Tax Liability of Sr Citizens A.Y.2022-23 & A.Y.2023-24

Tax Liability of Sr Citizens A.Y.2022-23 & A.Y.2023-24: The persons who find it difficult to calculate income tax for their parents or senior citizens themselves must read this article for everything you need to know about the taxation of senior citizens. You will find here the meaning, definition, tax liability, income tax rates, income tax … Read more

Ready 7 Documents for A.Y.2023-24 & A.Y.2022-23 Income Tax Return

No doubt, there is no need to enclose any documents with income tax return now. But it is advisable that you should prepare all supporting documents on the behalf of you filed income tax return. As Assessing Officer may demand these documents at any time after the filing of the income tax return. Documents in … Read more

Penalty for Late & Non Filing of TDS Returns (A.Y.2023-24)

Penalty for Failure/Delay in Filing TDS/TCS Returns (A.Y.2023-24): In accordance with Income Tax Act, every deductor (who deducts TDS on behalf of a payee) must deposit TDS within the prescribed limit to the account of the Income Tax department. Persons who fail to deduct or pay tax are liable for penalties under the Income Tax … Read more

Instructions to Apply New PAN – Filling Fresh PAN Application Form

As you know, PAN numbers are mandatory for all assessees. There are many benefits to having a PAN. We have provided very simple instructions here on how to apply for a new PAN. In order to make it easy for every layman to understand and apply PAN himself without any assistance from a professional. You … Read more

Company Income Tax Rates AY 2022-23 & A.Y. 2023-24

Personal Income Tax: A personal income tax is paid by an individual based on their income tax slab. To put it another way, you can say the taxes paid by people with salaries, pensioners, individuals with capital gains, house property income and Propertership businesses. You can check the personal income tax slab for A.Y.2022-23 and … Read more

Income Tax Slab AY 2022-23

Income Tax Slab (AY 2022-23): This income tax slab for A.Y. 2022-23 includes all amendments up to date (includes all amendments made in Finance Bill 2021). NO change in basic exemption limit or slab rates in finance bill 2021. Income Tax Slab (Old Tax Regime) ✔ (Individual/HUF/A.O.P/B.O.I) ✔ (A.Y. 2018-19, A.Y. 2019-20, A.Y. 2020-21, A.Y. … Read more

Income Tax Rates on Partnership Firms [A.Y. 2022-23] & [A.Y. 2021-22]

See the latest income Tax rates or income tax slab for partnership firms for A.Y.2022-23, A.Y.2021-22, A.Y.2020-21, A.Y.2019-20, A.Y. 2018-19, A.Y. 2017-18 A.Y.2016-17, A.Y. 2015-16 & A.Y. 2014-15“. Income Tax Rates on Partnership Firms A.Y.2022-23 Long-term capital gain from equity shares, etc. u/s 112A 10% Long-term Capital Gain u/s 112 20% Short-term Capital Gain u/s … Read more

Who is Required to File Income Tax Return?

Persons Required to File Income Tax Return (A.Y. 2022-23 & A.Y. 2023-24): According to the Income Tax Laws, if a resident individual has earned a total income exceeding the basic exemption limit during the financial year, he or she must file an ITR on a mandatory basis. If you opt for the old income tax … Read more