Paying tax is inevitable, be it for an individual or a business. Tax is levied on the income earned by an individual or business after certain deductions. Due to multiple income tax slab rates combined with many tax exemptions and deductions, calculation of income tax can be a challenging tas...
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Example of Income Tax calculation for old and new tax regime Why did Government come out with the New Tax Slabs without deductions? In an interview with Times of India, revenue secretary Ajay Bhushan Pandey said that the assumption that all exemptions be taken into account for all slabs did ...
Provided that for the purposes of calculation of the said aggregate participation or investment in the fund, any contribution made by the eligible fund manager during the first three years of operation of the fund, not exceeding twenty-five crore rupees, shall not be taken into account; ...
Missing the deadline for filing Income Tax Returns (ITR) for the FY 2023-24 and AY 2024-25 can have some harmful effects. Take a look at what happens if you miss the ITR deadline:Potential for Scrutiny: Recognize, that if you file your taxes later, it might grab the attention of ...
Section 80EEA of Income Tax Act 1961 amended by Finance Act 2022 and Income-tax Rules, 1962. Deduction of interest on house property loan.
A new electronic filing facility is available for new ITR-1 and ITR-4 forms for the FY 2023-24 Calculation of Advance Tax for A.Y. 2024-25 Now you can send any document or PDF file via Whatsapp or e-mail from the Print Preview of Reporter Return Forms, 26AS, Acknowledgment, Computat...
Learn how to file Income Tax Returns ( ITR ) for FY 2022-23 (AY 2023-24) and FY 2023-24 (AY 2024-25). We covers tax concepts on Salary, interest, Capital Gains, House Property, Business and Profession and GST.
Income Tax For Employee i.e Salaried Form 16 Understanding Form 16: Part I, Understanding Form 16: Chapter VI-A Deductions, Understanding Form 16: Tax on income Understanding Form 16 – Part 3 Understanding Perquisites Allowances HRA Exemption,Calculation,Tax and Income Tax Return How to show...