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

TDS Rates Chart (AY 2022-23 FY 2021-22) – Updated

Very Important Notes Note 1: The tax shall be deducted by an individual and HUF under these provisions if his total sales, gross receipts or turnover exceed Rs. 1 crore in case of business or Rs. 50 lakhs in case of the profession during the financial year immediately preceding the financial year in which sum … 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

PPF (Updated 2022) A Popular Tax Saving Scheme

Who Can Open PPF Account? Any individual in his own name or on behalf of a minor for whom he is a guardian, can open a PPF account in addition to their GPF account. Only one PPF A/c can be opened in one name. Either father or mother can open a PPF account on behalf … 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

Deduction 80C A.Y.2022-23 & A.Y.2021-22 – Complete Guide

We will cover here the complete detail about deduction under section 80C for A.Y.2022-23 & A.Y.2021-22. We know that you are very much interested to know the deduction from gross total income to calculate net income tax. As we will discuss only here deduction under section 80C in detail. There are lots of deductions comes under … 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

Which ITR Form to File for A.Y.2019-20?

Which ITR Form to File for Income Tax Return (A.Y.2019-20) Individual and HUF Nature of Income ITR-1* (Sahaj) ITR-2 ITR-3 ITR-4* Salary Income Income from salary/pension (for ordinarily resident person) √ √ √ √ Income from salary/pension (for not ordinarily resident and non-resident person) √ √ Any individual who is a Director in any company … 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

TDS Rates Chart

TDS Rates Chart for (A.Y.2022-23 F.Y.2021-22) – Check Here Here is the TDS Rates Chart for F.Y.2019-20/A.Y.2020-21 (From 1-4-2019 to 31-3-2020). You can check here compact TDS rates chart & detail TDS rates chart. The compact TDS rates chart to check TDS rates fast without any delay. You can also save the image of TDS … 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

How to File Income Tax Return Online for A.Y. 2019-20?

Assessee who are required to file income tax return online must e-file their return. Otherwise it is your choice to file income tax return online or offline. In previous article we have given detail guidelines about how to file income tax return online, offline or TRP schemes. You can file income tax return online for … Read more