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.
Section 194C of the Income Tax Act covers tax deductions on payments to contractors and subcontractors for work contracts. Learn about Section 194C and the TDS rates.
Everyone wants to save more, and create a financially stable future that covers every expense even without a regular source of income.
Understand the concept of Angel Tax, its impact on startup funding, and how it influences investments from angel investors. Learn more with India Infoline.
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.
The Income Tax Act divides the income received by a person into five different heads. One of them is the income from house property that comprises the income earned by a person through the property(s) owned by him/her.
Taxpayers, facing time constraints, may initially file inaccurate or incomplete income tax returns. To address this, the Income Tax Act’s section 139(5) permits the filing of revised returns, enabling corrections and the inclusion of omitted information for accuracy. What is a Revised Return? The Income Tax Act, 1961, Section 139(5) permits taxpayers to present a revised return. This provision empowers them in rectifying errors or […]
It is essential to know of the reliefs the Income Tax laws grant to assessees under the scanner to reduce the damages caused by such operations.
Filing of income tax provides proof for your income as legal and disclosed. It helps you in many ways such as getting refunds, applying for loans, applying for tenders, startup funding etc.
What’s one popular investment avenue for achieving financial goals? It’s none other than mutual funds. One of their main advantages is their tax efficiency. But investors who overlook the tax implications may not be making the most of their investments. Jump into this informative guide to explore details about tax on mutual funds. Understanding How They are Taxed So, is mutual fund income taxable? Like […]
Paying taxes is an inevitable part of being a working-class citizen or entrepreneur/business owner.
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 […]
Discover legal ways to reduce tax liability on investment gains in India. Learn strategies and more in this guide.
There are many basic taxes in India that people should be familiar with. Irrespective of whether you are a big business owner or an employee of a large organization, it is a must for all to have a basic understanding of taxes. One of these basic taxes is known as the Capital Gains tax. In the times of selling your properties for shares, the most […]
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