Category: Income Tax

As the name suggests, Self Assessment Tax is the tax which is computed by the taxpayer on his own and then deposited with the govt. The Self Assessment Tax shall...

The tax liability of a person can be reduced through Tax Planning, Tax Avoidance & Tax Evasion. Although, in common parlance these terms are used interchangeably, these terms are technically...

Forgetting the login-id and the password required to login to the income tax website at the time of efiling of income tax returns is a common mistake which many taxpayers...

At the time of entering into certain specified transactions, PAN Card No. is mandatorily required to be submitted. In case a person does not have a PAN Card No., he...

The interest that is earned on the Fixed Deposit is not tax free but is taxable. The tax on fixed deposit is levied as per the Income Tax Slabs of...

The Income Tax Return Forms from A/Y 2013-14 onwards have inserted a new column which asks – Are you governed by the Portuguese Civil Code? A screenshot of the same...

For the purpose of simplicity and to facilitate easy payment of taxes, the income tax act suggests rounding off of income and the income tax payable thereon. The Rounding off...

The Balance Sheet and Income statement of companies across the Globe are usually prepared for a period of 1 year. However, the date from which this period starts varies from...

Tax is payable on all incomes earned in India by an Indian resident. However, there are some exceptions to this rule and some incomes have been specifically exempted from tax....