How to save Income-Tax under 80GG?

By |2019-04-02T05:15:46+00:00March 27th, 2019|Categories: Deductions, ITR Filing, Save Income Tax|Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Section 80GG of the Income Tax Act allows claiming of the tax deduction for the house rent paid for accommodation. Not all salaried people are able to stay in their own place. Either due to work being located in distant locations, affordability, or many other problems, personal or otherwise. To ease up their problems, the Government [...]

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Digital Signature Certificate

By |2017-07-12T11:30:05+00:00July 8th, 2017|Categories: ITR Filing|

ITR is required to be filed online with the Digital Signature in some cases but filing of ITR without the digital signature can also be done. The e-file income tax return is although mandatory but the filing of ITR with the Digital Signature is not mandatory. The income tax return is normally filed by the following modes: (i) Furnishing of [...]

5 Heads of Income Tax

By |2020-03-16T10:19:46+00:00July 8th, 2017|Categories: Advanced Concepts, Capital Gain, House Property, ITR Filing, Other Sources, Salary|

Introduction  As per the Section 14 Income Tax Act,1961, there are five main income tax heads for an individual. The computation of income tax is an important part and has to be calculated according to the income of a person. For a hassle-free calculation, the income has to be classified properly so that there is no confusion regarding [...]

Taxability on Dividend Income

By |2017-07-24T13:08:28+00:00July 8th, 2017|Categories: ITR Filing, Other Sources|

Introduction A dividend is a payment that is declared by a company's board of directors & it is to be given out to its shareholders out of the company's current or retained earnings. The company that offers dividends to their shareholders are most often companies that have progressed beyond the growth rate & no longer benefit [...]

Notice u/s 139(9) : Defective Return Notice

By |2020-03-16T10:25:31+00:00July 7th, 2017|Categories: IT Notices, ITR Filing|

It is the case where a person receives a notice for defective return u/s 139(9) because the IT Department has found any discrepancies or mistakes or any missing information in ITR. Once you file your income tax return, the details provided by you in the ITR are cross-verified and processed. The department compares the details provided by you [...]