10 Things to Know about Tax Planning for Self-Employed Professionals Introduction Tax planning is a crucial aspect of managing finances for self-employed professionals. It involves strategic decision-making and proactive measures to optimize tax liabilities while ensuring compliance with relevant laws […]
Frequently Asked Questions (FAQs) on Income Tax Return (ITR) Filing Introduction Filing Income Tax Returns (ITR) is an essential task for every taxpayer in India. It is a legal requirement that helps the government keep track of an individual’s financial […]
How to Reply to the Notice of the Delayed Filing of Income Tax? Introduction Receiving a notice from the tax authorities regarding the delayed filing of income tax can be unsettling. However, it’s important to remain calm and take prompt […]
Alternative Minimum Tax: Advantages & Disadvantages Introduction The Alternative Minimum Tax (AMT) is a parallel tax system designed to ensure that individuals and corporations with high incomes pay a minimum amount of tax, regardless of tax deductions and AMT credits. […]
What are the mistakes to avoid while claiming House Rent Allowance (HRA) on the ITR? Introduction House Rent Allowance (HRA) is an important component of an individual’s salary paid by their employers. It is provided to employees to meet their […]
Impact of the Latest Income Tax Return (ITR) Filing Reforms: Understanding the Changes Introduction The income tax filing process is an essential aspect of personal finance management, and it plays a significant role in the overall economy. In recent years, […]
Do you know the way to reply to the notice u/s 143(2)? Introduction Filing income tax returns is a crucial process that every taxpayer must undertake. However, after ITR return filing, the Income Tax Department may issue a notice u/s […]
Role of Assessing Officer in Scrutiny Assessment- All you need to Know Introduction The Income Tax Act, 1961, provides for the scrutiny assessment of taxpayers’ income tax returns under Section 143(3). The scrutiny assessment process is undertaken by an Assessing […]
RERA and Income Tax Factors to Keep in mind when buying a New House Introduction Buying a new house is a significant financial decision that requires careful planning and consideration. In India, the Real Estate (Regulation and Development) Act, 2016 […]
