Tax avoidance is lawful; Tax avoidance is criminal

By |2021-09-01T07:54:10+00:00September 1st, 2021|Categories: ITR Filing|Tags: , , , , , , , , , , , |

Tax Avoidance and Tax Evasion are two idioms that serve a common motive i.e ‘To lessen the amount of tax from person, firm or any legal entity’s earnings” but one dissimilarity which can be drained from these two conceptions is that one focus to do it in a legal manner and other seek for an illegal [...]

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Forms for AY 2021-Issued Return of income tax return

By |2021-06-19T06:27:06+00:00June 19th, 2021|Categories: ITR Filing|Tags: , , , , , , , , , , |

In a form called 'Income Tax Returns,' taxpayers report revenue (Income-Tax Return). The Central Government prescribes this form annually. It takes into account annual changes in the budget. New ITR forms were notified on 31 March 2021 for the 2020-21 financial year (the assessment year 2021-22). These forms must be submitted with returns for the current [...]

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Section 80TTA

By |2020-03-16T10:33:51+00:00April 3rd, 2019|Categories: Deductions|Tags: , , , , , , , , |

What is Section 80TTA? This Section was launched under the Finance Bill of 2013 and shifts appropriately from the Financial Year of 2012-13 onward. The Income Tax Act under Section 80TTA enables you to declare deductions on savings accounts deposits. The section offers a decrease of the amount on savings account interest up to Rs 10,000 every [...]

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