Income Tax

Various Tax Benefits of Mutual Funds in India

A Mutual Fund is a fund which primarily collects money from the public and then invests the same in specified securities on behalf of its investors. Mutual Funds can broadly… Read more

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11 useful Income Tax Deductions for 2019-20

The Income Tax Act provides for various income tax deductions which can be claimed at the time of filing of income tax returns. The total taxable income (after reducing the… Read more

ITR Filing & Tax Audit for Income from F&O Trading

Traders dealing in Futures & Options (F&O) usually enter into big transactions on a regular basis but the profit earned by them in such transactions is fairly small. As the… Read more

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How to link Aadhaar Card with Income Tax Return (ITR)?

From Assessment Year 2015-16 onwards, the Income Tax Department has extended facility of verifying and signing the Income Tax Return through the Aadhaar Card. The taxpayer would be required to… Read more

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How to file an Income Tax Return (ITR)?

It’s that time of the year again when the common man is buzzed with the question of how to file an Income Tax Return (ITR). The Income Tax Returns can… Read more

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Income Tax efiling Online in 6 Simple Steps for Free

Income Tax efiling can be done online through the Income Tax Website without any cost in 2 different ways:- Income Tax efiling by downloading the ITR Java utility or the… Read more

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ITR 2A: All about new Income Tax Form for AY 2016-17

The Income Tax Department has released the new ITR Forms applicable for AY 2016-17. Apart from the normal ITR Forms i.e. ITR 1, ITR 2, ITR 3, ITR 4, ITR 4S… Read more

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Section 80CCC: Tax Deduction for Contribution to Pension Funds

Section 80CCC was introduced so as to encourage taxpayers to invest in Pension Funds and secure their future. Section 80CCC provides for Income Tax Deduction for contribution to Pension Funds… Read more

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Amendment in Section 288: Appointment of Auditor: Budget 2015

Budget 2015 which was presented by Arun Jaitley on 28th Feb 2015 has introduced an Amendment in Section 288 of the Income Tax Act to provide that an Auditor who… Read more

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Income Tax & TDS on Interest on Recurring Deposit (RD)

When you have a lump-sum amount to invest, it is always advisable to invest in Fixed Deposits. But when you don’t have a lump-sum amount to invest, and can save… Read more