This is a common problem when you use the right form but make mistakes in filling up the form or omit important items. However, you don't need to worry as the tax department gives you the option to rectify your error under section 154. The process is quite simple, Just log in to the e-filing portal and under the rectification tab, choose the order/intimation to be rectified and the assessment year.
According to the Indian Stamp Act, 1899, the Central Government levies stamp duty on the exchange of instruments, where an instrument is defined as any document by which any right or liability is created, or is purported to be created, transferred, limited, extended, extinguished or recorded.
This comprehensive guide explains everything you need to know about ELSS mutual funds, including tax benefits under 80C, lock-in period, risks, and investor suitability.
One of the first documents that we are supposed to check when filing tax returns is the Form 26AS. This is automatically uploaded by the Income Tax department into your secured PAN access area in the e-filing website. Form 26AS is not only an important document but also one of the most authentic records of how much tax has been deposited by your deductor into the government account.
Patta Chitta is a land ownership record kept by the Tamil Nadu government. Learn more about Patta Chitta and its importance in this quick guide by India Infoline.
One important feature of the financial environment is the income tax on intraday trading. Both traders and investors frequently find it to be confusing. Purchasing and selling financial products during the same trading day is known as intraday trading, and the goal is to profit from brief price movements. Even if there is a chance for significant earnings, it is crucial to comprehend the tax […]
Double taxation occurs when the same income gets taxed twice, either in two different countries or under two different tax regimes in the same country. This places an extra and unfair tax burden on taxpayers. However, India’s tax laws provide certain relief measures that you can avail to reduce the impact of double taxation on your finances. This article will discuss what double taxation relief […]
Are you a resident Indian with a gross taxable income exceeding Rs250,00 yearly? Or do you own any movable or non-movable assets in this country? If yes, then you need to file your Income Tax Returns (or ITR) every year.
Saving money by reducing your tax liability requires groundwork. It’s called tax planning.
For the government, taxes are an essential source of revenue. On the other hand, double taxation happens when taxes are levied at different rates on the same income, which greatly raises the tax obligation. This may occur if the income source and the recipient are subject to taxes. However, it is essential to comprehend the idea and forms of double taxation in order to prevent […]
Investing in equity not only helps you diversify your portfolio but also fetches high returns in the long term. Investing in equity also offers various tax exemptions and deductions which you can avail of on your stock market investments.
You may be surprised to learn that there are three ways the government can take taxes out of your money. Tax Deducted at Source (TDS), Advance Tax, and Self-Assessment Tax are some of these techniques. The topic of today’s discussion will be self-assessment tax, which is crucial for submitting your income tax return (ITR). Self Assessment Tax Meaning The remaining tax, after deducting the TDS […]
Navigate tax planning in India with confidence. Learn strategies to save taxes legally, maximize deductions, and stay compliant with the latest laws.
Understand the concept of Angel Tax, its impact on startup funding, and how it influences investments from angel investors. Learn more with India Infoline.
Discover legal ways to reduce tax liability on investment gains in India. Learn strategies and more in this guide.
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