and interest income respectively. When your annual income exceeds Rs. 2.5 lakh, you are obligated to file income tax return online. And report the interest income in those returns. You should disclose the income on which tax has been deducted and claim credit for TDS in the income tax return...
According to income tax laws,filing the Income Tax returnand updating your Income-tax Return status is obligatory for every individual or entity whose income exceeds the threshold limit mentioned in the Income Tax Act-1961. #1.Filing the return on time is the first and foremost necessity for cl...
Entity (person or company) required to furnish details u/s 139 [4A, 4B, 4C, 4D, 4E] of IT Act, 1961 Is it possible to apply for income tax e-filing 2020-21 on my own? If I do not have a positive Income, then is it necessary to file ITR even? What is the ITR due date...
Income tax e filing allows you to claim tax deductions and exemptions under various sections of the Income Tax Act, effectively reducing your tax liability. Essential for Financial Transactions ITRs are often required for: Loan Applications: Banks and financial institutions typically require the last ...
When Income is computed on a presumptive basis under sections 44AD, 44AE, or 44ADA, it is presumed to have been calculated after accounting for all allowances, depreciation, losses, or deductions as per the Income-tax Act. However, individuals incurring losses after applying the proviso to su...
GST is one indirect tax for the whole nation, which will make India one unified common market.GST registration online is a single tax on the supply of goods and services,right from the manufacturer to the consumer. GET STARTED MSME / SSI Registration ...
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Under Section 80C of the Income Tax Act, such profit can be considered as an “income”. Naturally, you’ll need to pay the applicable tax on the amount in the concerned financial year when the asset was sold. Now that is called Capital Gains Tax. In… Get MSME Registration Certificate...
Ignorance of Income tax notice and non-cooperation during income tax assessment not only attracts heavy penalties but may lead to the best judgment assessment by the tax officer against you. Some non-compliances of the income tax act contain prosecution punishment also. ...
Ma said he would work with UNCTAD to help bring 200 budding African entrepreneurs to China for a hands-on learning ... Transcorp revenue rises 38 percent to N34.17 billion Transcorp said its after-tax profit rose to N4.16 billion in H1’17 compared with a...