First-time taxpayers should know these things before filing ITR
For salaried individuals, the first step to file ITRs is to get hold of their Form-16 from employers. This document…
Category: Income Tax Articles
Tax planning before March 31: Do’s and dont’s for the last-minute tax saver
Don’t rush into investments just for tax benefits. Choose options that align with your financial goals and risk tolerance. Even…
New Tax Rules To Come Into Effect From April 01, 2024
April 1 marks the beginning of a new financial year and it is always significant from a personal finance point…
Furnishing of Tax Audit Report: Facts you should know
Section 44AB provides that every person, who is required to get his accounts audited for any previous year by an…
Tax Audit Report: Form 3CD – Clause 44: Break-up of expenditure
Clause 44 of the Form No. 3CD requires break-up of total expenditure of entities registered or not registered under GST…
Tax Audit Report under Section 44AB: Basics you need to know
Tax Audit Report Section 44AB requires the tax auditor to submit the audit report in the prescribed form and setting…
Gold & Silver rates for Income Tax purposes
As per the provisions under the Income Tax Act, 1961 any gain on the sale of gold, silver, or jewellery,…
FAQs on Tax Audit under section 44AB of the Income Tax Act, 1961
The dictionary meaning of the term “audit” is check, review, inspection, etc. There are various types of audits prescribed under…
Who are required to file income tax returns compulsorily
Many people inquire if filing ITRs is at all necessary, especially, if their income does not exceed the exemption limit.…
Income Tax Rebate Under Section 87A: All you need to know
Section 87A of the Income-tax Act, 1961 allows a income tax rebate in case the taxable income does not go…
How to check income tax refund status
1. Overview Income tax refund means a refund amount that is initiated by the income tax department if the amount…
How to revise Income tax return: All you need to know
For a normal salaried individual the due date for filing income tax return (ITR) for the AY 2023-24 (FY 2022-23)…