6 Simple Steps to Reduce Income Tax

Almost everyone is looking for ways to save money on their income taxes at all times. In today’s world, no one wants to miss out on opportunities that can be used to save money on tax payments. The investments, charity and other payments which could reduce the taxable income which will reduce the tax burden … Read more

Mutual Fund Taxation A.Y. 2022-23 (STCG, LTCG and Dividend)

Mutual Fund Taxation A.Y. 2022-23: In case you are planning to invest or have already invested in mutual funds, you need to understand their taxation. You cannot get a better return on mutual funds without knowing the tax rules. You must know how to calculate taxes on mutual fund gains and dividends. You can find … Read more

Fixed Deposit: TDS, Tax Deduction, Tax on Accrued Interest

Fixed Deposit Income Tax Deduction (A.Y.2022-23): Every year we plan our tax as per the income tax slab and deductions of that particular assessment year. But we always have some confusion, about which investment is good to get a deduction under section 80C. Here, we’ll talk about one of the most popular investments about fixed deposits … Read more

Deduction 80G: Donations Allowed for Deduction A.Y. 2022-23

Deduction 80G – List of Donations Allow for Deduction under section 80G: The government of India has allowed some of the donations eligible for deduction from your income tax. We will discuss here how you can get the deduction 80G and which donations are eligible for deduction under section 80G. For a common man, Section … Read more

Deductions From Salary for A.Y. 2022-23 (Updated)

Deductions From Salary for A.Y. 2022-23: The salary people always request that we tell them about all the deductions that we are eligible to claim in A.Y. 2022-23 and 2023-24. Therefore, we provide a list of all deductions from the salary that you can claim while calculating taxable salary income or net total income after … Read more

Deduction 80GG: Deduction for Rent Paid A.Y. 2022-23

Deduction 80GG – Deduction in respect of Rent Paid: Deduction under section 80GG provides a tax benefit for that assessee who does not receive of house rent allowance (HRA) but lives in a rented house. So, you can get a deduction under section 80GG from your income tax if you are not getting any house rent … Read more

Apply Free Instant e-PAN: Get PAN within 10 Minutes

Income Tax Department has launched a new facility called Instant e-PAN. This facility is free of cost for instant allotment of e-PAN. It is a good opportunity for the persons who do not have PAN card. They can get benefit from this free-of-cost service. You are required to have a valid Aadhaar number to get … Read more

Download New Form 49A PDF (PAN Card Application Form)

Download New Form 49A PDF (PAN Card Application Form): Form 49A is an application form to apply for a new PAN for residents in India. You can download form 49A, print form 49A, fill out form 49A and submit it to the nearest TIN facilitation centre along with required documents and photographs. You can also … Read more

What is PAN Card? Structure, Application, Surrender

In simple words, a PAN card is an identity in the eyes of Income Tax Department. It contains all the necessary information which Income Tax Department needs. In this article, we will cover all aspects of PAN like what is PAN, How to apply, Who is liable to apply etc. Please ask if you have … Read more

Lost PAN Card: Step-by-Step Procedure to Reprint PAN Card

Step-by-Step Procedure to Reprint Lost PAN Card: Many times, a person gets into a tough situation when a PAN Card is lost. The loss of a PAN Card can be due to negligence of a person or due to some unavoidable factors such as theft. Under such circumstances, the first requirement is to file an FIR … Read more

Know Your PAN Online (New Procedure 2022)

Know Your PAN online 2022: In some cases, you may have difficulty finding your PAN number, for example, you may forget your PAN number, you may have lost your PAN card and you may want to know your PAN online. It is very easy to obtain your Permanent Account Number (PAN) as well as your … Read more

ITR 7 A.Y.2022-23: How to File ITR-7 Online?

ITR 7 A.Y.2022-23: In this article, we will discuss ITR-7 instructions, filing procedure, changes, PDF format, FAQ and more. ITR-7 can be used for the persons including companies required to furnish returns under sections 139(4A) or 139 (4B) or 139 (4C) or 139 (4D) only. Updates: ITR-7 is also now available for efiling. Excel Offline Utility … Read more

ITR 6 A.Y.2022-23: How to File ITR-6 Online?

ITR-6 A.Y.2022-23:The ITR-6 form should be used by companies that do not claim an exemption under section 11. The company seeking exemption under section 11 should not file the ITR-6 form for the assessment year 2022-23. This article provides complete guidance on ITR-6 (Income Tax Return Form), which includes filing procedures, instructions, PDF format, Excel … Read more

ITR-5 AY 2022-23: How to File ITR-5?

ITR 5 A.Y. 2022-23: It is applicable to firms, LLPs, AOPs, BOIs, artificial juridical persons (AJPs), estates of deceased persons and estates of insolvency, business trusts and investment funds. Central Board of Direct Taxes (CBDT) has updated ITR-5 excel and java utilities with PDF instructions. In this article, we will discuss the complete detail of ITR-5 … Read more

How to Download LIC Premium Certificate Online? New Procedure

Download LIC Premium Certificate: As the time for filing returns approaches, every taxpayer needs to start accumulating receipts that shall offer them deduction. One of the most common documents in such respect is the LIC Premium Paid Certificate for the whole financial year. Section 80C of the Income Tax Act specifically mentions taxpayers can claim … Read more

Advantages of Private Limited Company for Startups & Any Business Model

A private company is most common line of doing business which aims to earn profit and also to enjoy the benefits of incorporated entities. It is a successful business model. Owners hold all shares of the company. It also results helps to protect the personal assets. The following advantages may force an individual to form … Read more

Penal Interest under Sections 234B & 234C (A.Y. 2023-24)

Penal Interest under Sections 234B & 234C: Taxpayers who are responsible for paying advance tax are required to pay penalty interest if they fail to do so. The provisions of sections 234B and 234C are different. We will discuss here all about the penal interest under sections 234B and 234C. Reasons for Penal Interest Section … Read more