Calculating income tax can be overwhelming as there are too many rules and formulas. There are calculators and other resources that you can use. You may also take CA’s help. But, the best option is to use Excel to simplify this process. In this article, we will see tax regimes and ex...
The CBDT finds that over 34.84 lakh audit reports had been filed on the e-filing portal for AY 2024-25 by 7 October 2024. Read More08th October 2024The CBDT has established an internal committee to examine the Income-tax Act thoroughly. Also, the department is seeking input from stakeholde...
Exempt Income in ITR1 is on Excel sheetTaxes Paid and VerificationRow 27 fromFill Excel ITR1: 80G, Exempt Income,Calculation of Taxas shown in image below Exempt Income: Income by way of dividend from Indian company [Section 10(34)] If dividend received by aresidentshareholder exceeds Rs 10...
My company Finance department did some calculation and shown I can get relief under Section 89/90 now I was not aware of the different ITR forms so I thought I need to User ITR1 for this relief and asked relief under section 89 but Income Tax department rejected it and asked for the Du...