The income tax department of the government of India keeps an eye on every taxpayer. The overall summary of incomes and the amount of tax paid by every citizen to the government of India is something like a report card of a student during a year for the parents. The form that a person […]
Exemptions are applicable in India under which a person can claim deductions to reduce his/her taxable income. It includes exemptions under section 80C, 80F, 80U, 80G, 80EC, 80H. These include exemptions for house property, payment of the principal amount. These exemptions are applicable to NRIs as well. Therefore, for those exemptions that are applicable NRIs can […]
Filing income tax return can be a very clumsy task as it involves managing each and every transaction or income of the past year. One need to be extremely careful while filling income tax returns. 31 July, every year, marks a very important day as within this due date, a person is bound for income […]
Advance tax is the tax that is payable on the total income of the year that is earned from different sources including salary, business, profession, rent etc. It is supposed to be paid at the end of the financial year.
It is also known as ‘pay as you earn’ scheme and is payable if the income […]
