Cost Inflation Index for the FY 2022-23 AY 2023-24 Introduction Cost Inflation Index is a term used in the context of income tax in India. It refers to the index that helps taxpayers determine the inflation-adjusted purchase price of an […]

What is a sole proprietorship? Why filing ITR is mandatory for a Sole Proprietorship in India? Introduction A sole proprietorship, like other incorporated businesses such as partnerships and companies, must pay tax on its earnings. In a legal sense, a […]

ITR Filing for a Partnership Firm Introduction All partnership firms are required to file income taxes, either manually or digitally. Income tax for a company can be validated with a digital signature or an electronic verification code (EVC). When a […]

“What is E-Filing?”, “What is E-Payment?”, And the Difference Between E-Filing and E-Payment Introduction E-filing is the process of electronically filing a tax return, and e-payment is the process of electronically paying taxes. Using the e-payment and e-filing tool, the […]

“What is Section 80TTA under Income Tax?”, Deduction available under Section 80TTA of the Income Tax Act, and FAQs on Section 80TTA Introduction Everyone has a savings account, but the majority of us are unaware that the interest earned is subject […]

Information on Section 111A of Income Tax Act, Section 112 and Section 112A of Income Tax Act, and the Difference between 111A and 112A under Income Tax It is critical for a taxpayer to understand Sections 111A, 112A, and 112 […]

What is ITR 3 Form?, “How to file ITR 3?”, And information on “Who can file ITR 3?” Introduction In India, there are several types of taxpayers, each of whom requires a separate form to file income tax returns. ITR […]

Difference between Professional Tax and Income Tax: A complete guide Income tax is not the same as professional tax. While a professional tax is governed by the state government, the income tax is controlled by the federal government (Central Government). […]

A complete guide for a taxpayer on Filling of Income Tax Return for Previous Year Introduction It is mandatory for an entity to file their ITR. Your income, total taxes owed, liabilities, and tax refunds for the fiscal year are […]