“How Income Tax is Calculated on Salary?”– Navigating the labyrinth of income tax calculation in India, particularly for salaried individuals, can be akin to solving a complex puzzle. Fear not, for it’s a crucial puzzle to unravel in the realm of personal finance. Income Tax Calculator s...
CBDT sending emails on ITR Filing & AIS Mismatches December 20, 2024 by suman The Central Board of Direct Taxes (CBDT) has launched its electronic campaign to assist taxpayers of India in resolving any mismatches or discrepancies between the income and transactions seen in the AIS annual infor...
In any case, if you failed to file income tax returns on or before the deadline, you would be required to pay interest at the rate of 1% for each month, or part of a month, on the amount of unpaid tax according to section 234A. Carry Forward of Losses are not allowed If you fac...
of India who is an assessee and whose income is subject to tax under the proposed sub-section (1A) of section 115BAC from the assessment year 2024–25 onwards shall be entitled to a refund of 100% of the amount of income tax payable on a total income not exceeding Rs 7 lakh. ...
Stay ahead of the curve and ensure financial compliance by e-filing your income tax return via Enterslice. Avoid penalties and interest by filing income tax on time through our expert professionals. Choosing Enterslice to e-file your income tax return in India will provide a hassle-free experienc...
No, family pensions will be taxed as ‘income from other sources,’ not as salary income. 2. Is it true that income up to Rs.5 lakh is tax-free? No, income up to Rs.5 lakh is not exempt from taxation. Further, individuals with an annual income of up to Rs.2.50 lakh, on the ...
When a monetary reward provided by the employer but not included in the employee's regular monthly salary is known as a gratuity. The Payment of Gratuity Act, 1972 regulates the gratuity provisions, and it is paid upon the occurrence ... INCOME TAX Timeline For Filling Form 67 under Income...
I receive my salary income after deduction of TDS. Am I required to file an income tax return? You are required to file an income tax return once your annual income exceeds Rs 2.5 lakh. A deduction of TDS does not replace the requirement to file ITR. While e-filing your ITR, you sh...
49 lakh cases of income tax refunds are pending with the revenue departmentraj kumar makkadPrint this
Fixed deposits (also called term deposits) are seen as a safe bet by many who wish to invest their money and earn extra income on it, without taking too much risk. In case of FDs, you get an insurance coverage of up to INR 5 lakh. This is like a safety net in the event that a...