Still confused with Income Tax and TDS, fret not as here are some of the basic differences between Income Tax and TDS. Income Tax It is a mandatory tax paid by individualsand HUFs who have their income from various sources. It is a direct tax thatgoes directly from taxpayer to the government. TDS Tax Deducted… Continue reading Basic difference between Income Tax and TDS?
If you have paid some extra amount as your Income Tax, then there are chances that you will get an Income Tax Refund. There are instances where the taxpayer does not receive his/her refund on time. It takes inordinately long time to get IT Refund, here are a few reasons why: – There are chances that, there… Continue reading Why your Income Tax Refund is getting late?
If you are a business person, according to Section 44AA of the Income-tax Act, 1961, you will be required to maintain regular books of account in particular cases. For providing relief to small taxpayers from such hassles, a provision for presumptive tax is there under Sections 44AD, 44ADA, and 44AE. You can save yourself from… Continue reading When to go for Presumptive Tax Scheme?
As you know you can file your belated Income Tax Returns by 31st March of the relevant Assessment Year. If a taxpayer has not filed his/her returns for the Financial Year 2015-16, according to the Income Tax Department, the taxpayer should file returns on time. The Department is sending intimations to the taxpayers who didn’t… Continue reading When Can I Visit Compliance Portal?
The Financial year is just about to begin and the most important thing, that you are supposed do is, file your Income Tax Returns. The question that many of us ask is, how to file ITR? Filing an ITR can be a tedious task and then there is a constant thought, that what if you… Continue reading File ITR in 10 easy steps
With the increasing education cost, people are making their way towards education loan. According to one of the four credit bureaus in India, the average amount of education loan has gone up from 2.5lakh to 6.77 from 2010 to 2017. When you take any loan, the major concern is to get the lowest possible rate… Continue reading When Does your Education Loan not help Save Tax?
So, you want to know how your tax calculations were affected in 2018? Shown in this post is a handy chart giving rates for Income Tax calculator in 2018. Finance Minister Arun Jaitley left income tax brackets left unchanged in the last Union Budget so the rates for your income tax calculator in 2018 gets… Continue reading Rates for Income Tax Calculator in 2018