Income Tax Due Date for Filing Return
Income Tax Due Date for Filing Return: Your Guide to Timely Compliance Income Tax Due Date for Filing Return: Income tax filing is a significant responsibility for individuals and businesses alike. It’s an opportunity to fulfill our civic duty and contribute to the development of our nations. However, navigating the complexities of income tax can […]
5 Heads of Income Tax
5 Heads of Income Tax: Unlocking the Secrets to Financial Success 5 Heads of Income Tax: When it comes to income tax, understanding the different heads of income is crucial. The Indian income tax system classifies income into five categories, known as the 5 Heads of Income Tax. These heads determine how different types of […]
ITR Verification Process
ITR Verification Process: Ensuring Ultimate Compliance ITR Verification Process: CBDT w.e.f from 01/08/2022 has reduced the time limit for ITR Verification from 120 days to 30 days. With this change its clear that GOI is discouraging the practice of sending ITR to Bangalore. There are lots of verification methods for ITR, the most popular is Aadhar […]
What is Section 80EE and Section 24?
DEDUCTION UNDER SECTION 80EE What is Section 80EE and Section 24?: This section allowed the benefit of extra deduction to taxpayers over and above the deduction allowed in section 24 for interest paid against the loan borrowed for the acquisition of self-occupied property. SECTION 80EE ELIGIBILITY : An individual who has taken a loan from […]
What is Tax Audit
What Is Tax Audit and Why It Matters: Your Detailed Guide What is Tax Audit: A tax audit is an essential process conducted by tax authorities to examine and verify the accuracy and completeness of a taxpayer’s financial records and tax filings. It is a systematic review that aims to ensure compliance with the tax […]