Types of Assessment Under Income Tax Act

To provide the complete details of income for the relevant financial year, all assessee must file income tax returns with the Income Tax Department. Once the assessee has filed such a return, the next step is for the Income Tax Department to examine it and determine whether it is correct. Assessment is the process of […]

By |2021-12-09T07:21:54+00:00January 7th, 2022|Income Tax, ITR, Uncategorized|

Online Professional Tax Registration – An Overview

All salaried individuals are subject to professional tax, which is enforced by state governments. All working professionals, such as chartered accountants, lawyers, and doctors, are subject to professional tax. It is assessed based on the person’s occupation, trade, or profession. All states have different tax rates, but the highest sum that can be assessed as professional […]

By |2021-12-07T12:02:02+00:00December 12th, 2021|ITR|

Income Tax Rebate Under Section 87A

Introduction

Indian Income Tax Rebate Under Section 87A is one of the Indian income tax provisions that help Indian taxpayers reduce their Indian income tax liability. Indian citizens can claim an Indian Income Tax Rebate under section 87A if their total Indian income does not exceed Rs 5 lakh in a financial year. The Indian Income […]

By |2021-12-07T09:59:26+00:00December 8th, 2021|ITR|

SECTION 119 OF INCOME TAX ACT

INTRODUCTION

India’s Income Tax Act is one of India’s most important laws. India has a complex tax system with multiple levels of taxation, and Section 119 empowers the CBDT to issue instructions to lower levels of authorities. In addition, Section 119(2)(b) empowers CBDT to direct tax authorities to permit any claim for exemption, deduction, refund, and […]

By |2021-10-04T07:53:17+00:00October 4th, 2021|ITR|

Latest Income Tax Slab Rates FY 2020-21

In the Latest ITR Slab 2020, the finance minister ” Nirmala Sitharaman” declared the deduction in income tax rates. The new rates, individuals who are earning up Rs.5 Lakh will not require to pay any tax. Let’s have an introduction to ITR slab 2020-2021 in detail.

 Introduction: ITR Slab 2020-2021

The Finance Minister stated […]

By |2020-09-12T11:07:28+00:00February 4th, 2020|ITR, News|

Income Tax Return Filings rise by 26% for FY 2017-18

Tax Taboo

Let’s face the facts, The Government of India is no stranger to the problem of tax evasion, willful defaulters and black money hoarders. Few of these steps government has taken famously include Crackdown on Shell companies, Amendments to the Benami Properties Act i.e. RERA and demonetization. […]

By |2018-10-25T07:54:35+00:00September 14th, 2018|ITR|
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