This Article provides details on the following What is a PAN Card No. Documents to be enclosed How to apply for a new PAN Card No. online? Check PAN Card Status Submission of PAN Card Application Form Sample PAN Card...
Section 80G: Income Tax Deductions for Donations in 2023 Read More
To promote the concept of charity towards the poor and the needy, the Indian government has been regularly encouraging people to donate and this donation can also be claimed as a deduction under Section 80G. There are several government organisations...
Section 80E: Income Tax Deduction for Education Loan Read More
As per the Income Tax Act, a taxpayer is allowed to claim deduction under Chapter VI-A for the Repayment of Education Loan (Section 80E) and for the Repayment of Home Loan. However, the deduction allowed for both these loans is...
What is Professional Tax and Professional Tax Slab Rate in India? Read More
Professional Tax is a Tax which is levied by the State on the Income earned by way of profession, trade, calling or employment. This form of tax was first levied in India in the year 1949 and the power to...
Budget 2013: Tax Impact of Budget on Common Man in India Read More
The Indian Finance Minister P. Chidambaram presented the India Budget 2013 on 28th February 2013 and the following are the major tax changes that would impact the Indian Common Man:- 1. TDS of 1% on Property With an aim to...
Income Tax Refund Status: Beware of Fraud Emails Read More
If you’ve claimed Income Tax Refund in your Income Tax Return, chances are that you would be eagerly waiting for the Income Tax Department to process your Return and pay you the Tax Refund as computed as per the Income...
Deduction under Section 80TTA :Tax on Interest on Savings Account Read More
We all have a tendency of checking the amount of Interest on Savings Account earned during the year, but do we know the manner in which this Interest is computed and the Tax on Interest on Savings Account that would...
How to use Digital Signature for e-filing Income Tax Return Read More
With the advent of computerisation, everything has now gone online – newspaper has been replaced by e-newspaper, greeting cards have been replaced by e-greeting cards and income tax returns have been replaced by e-income tax returns. The computerisation of the...
Filing Revised Return of Income Tax u/s 139(5) Read More
Revised Return of Income Tax can be filed by an assessee any time before the expiry of the Relevant Assessment Year or before the completion of assessment (whichever is earlier). In simple words, in case you have filed your Income...
Procedure for furnishing Form 15CA & 15CB Read More
As per Section 195 of the Income Tax Act 1961, every person liable for making a payment to non-residents shall deduct TDS from the payments made or credits given to non-residents at the rates in force. The Reserve Bank of...