How to file a revised return?
Have you filed your Income Tax Return but later on realized that you discovered the mistake? Then no need to worry, you can rectify the mistake by filing a Revised Return.…
The Due Date for filing Income Tax Returns has been extended for the A.Y. 2021-22
The CBDT extended due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22.…
Section 80EEB of Income Tax Act; Interest on E-vehicle
As per the provisions of section 80EEB of Income Tax Act, 1961 taxpayer can claim deduction for interest paid on loan taken for the purchase of electric vehicles from the AY 2020-21.…
Deduction under section 80PA of Income Tax Act, 1961
the Producer Company can claim a deduction of an amount equal to 100% of the profits and gains attributable to such business for the previous financial year…
What is Annual Information Statement?
The Income Tax department has rolled out the new Annual Information Statement (AIS) on the Compliance Portal, which provides a comprehensive view of information to a taxpayer with a facility to give online feedback.…
SIP and its Tax Implication
SIP i.e. Systematic Investment Plan is the most convenient yet affordable method to spent in Mutual Funds. You can invest in SIP’s on periodically basis, the frequency of it could be either on weekly, monthly, quarterly, bi-annually or annually basis.…
Are Freelancers Need to Pay Income Tax?
every individual is required to pay tax on the income unless and until any specifications given for particular income. So, the freelancers are also required to pay tax on their income.…
ITR Due Date for FY 2020-21 (AY 2021-22)
If the taxpayers failed to file ITR within due date then will be liable to pay interest under section 234A and penalty under section 234F.…