Category: Income Tax

Fixed Deposit is one of the best options for earning secured fixed income. It’s not only safe but is also easy to create and break providing proper liquidity to the...

A lot of people try to act smart and divert their own income in their wife’s name so as to reduce the tax burden. People normally do this if the...

To reduce the burden of compliance of small taxpayers, the govt provides for a scheme of Presumptive Taxation which is very easy to understand and comply with. Under the scheme...

If the Income Tax Liability of any taxpayer is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year...

A lot of people trade and invest in stocks – some do it part-time as an investment and some do it full time as a business. From the point of...

An Income Tax Return is mandatorily required to be filed if the Total Income is more than the minimum amount which is exempted from the levy of tax. In other...

As the name states, an Intimation under Section 143(1) is only an Intimation and not a Scrutiny/ Assessment Order. Intimation under Section 143(1) is an auto-generated letter by the computers...

ITR 1 Form (also known as Sahaj) is one of the most popular form for filing Income Tax Returns because it applies to most of the Salaried Employees. However, it...

Goods & Services Tax (GST): GST is the complete mechanism to bring in numerous indirect taxes under one umbrella and thus rationalising the whole tax system. GST engulfs Central Goods...