income tax return

Didn’t get your income tax refund? yet? Here is how much interest will you get in return?

Every Citizen of India has a right to get interest on their income tax refund under Section 244 of the Income Tax Act in the event that they have made excess payment of advance tax or excess of TDS has been deducted on their sources of income. The Central Board of Direct Taxes (CBDT) in… Continue reading Didn’t get your income tax refund? yet? Here is how much interest will you get in return?

GST

Challenges of the new GST return filing system

Although it has been two years since Goods and Service Tax (GST) was implemented in India, there are many aspects that are vague even now. Taxpayers are still struggling to understand the concept in its entirety and the bearing it has on business. In a bid to boost accuracy and clarity and address some of… Continue reading Challenges of the new GST return filing system

financial services · Income Tax · income tax return · Our Services · Taxation

Learn How to E-file your Income Tax Return in 2018

As we cross into March, another financial year is drawing to a close. If you are a salaried individual you will have noticed the bustle around the office accounts department as they prepare to close their books. Your financial obligations to the government are due as long as you do not learn how to e-file… Continue reading Learn How to E-file your Income Tax Return in 2018

financial services · Taxation

TDS Mandatory if Rent Exceeds Fifty Thousand

TDS payment has been made mandatory for the house rent exceeding INR 50,000 a year and this will applicable for a metropolitan city. The TDS need to be deducted by the rent payer on behalf of their landlord. This decision is the result of current government’s focus of widening the tax net but ultimately the… Continue reading TDS Mandatory if Rent Exceeds Fifty Thousand

financial services

The Importance of PAN Card is Now Increased and Redefined

The recent announcements made by income tax efiling authority of India have made PAN Card mandatory for all account holders. This provision will not only affect the taxpayers, but will also anyone who have an account with any bank or post office. One who does not fall under tax slabs are also required to produce… Continue reading The Importance of PAN Card is Now Increased and Redefined

financial services · Taxation

A Better Understanding Of GST And Its Benefits

The Goods and Services Tax system is soon going to change the picture of Indian taxation system for goods and services we use every day. It is designed with a very neutral structure so that it distributes the application attractively and efficiently. It has various benefits that will impact the national economy and income tax… Continue reading A Better Understanding Of GST And Its Benefits

financial services · Taxation

Deductions Specified For Differently Able Citizens On Filing Income Tax

The Indian government has prescribed some deductions on their tax return online to share the misery of differently able persons. Section 80U and Section 80DD prescribes deductions are tailored specifically for the disabled persons. Section 80U describes deductions made for the working disabled persons and 80DD describe taxation relies on the persons who maintains a… Continue reading Deductions Specified For Differently Able Citizens On Filing Income Tax

financial services · Taxation

Income Tax Benefits of Registering Business As A Proprietorship

Online income tax return filing structure is important to decide before starting a new business. There are many business tax structures exist in India, from which you need to select one according to your business need. If it’s a start-up business then the best thing is to register it as a sole proprietorship as that… Continue reading Income Tax Benefits of Registering Business As A Proprietorship

financial services · Taxation

Deductions Allowed In Income Tax Payment For Life Insurance Plan

Life insurance policies are not only a life securing scheme, but also get attractive deductions during tax filing online. The tax benefits it offers are valid on capital invested, premium paid and the total maturity amount if it does not cross the prescribed threshold limit. According to section 80 of Income Tax Act, the maturity… Continue reading Deductions Allowed In Income Tax Payment For Life Insurance Plan

financial services · Taxation

All The Employee Benefits You Receive Are Exempted From Income Tax Liabilities

Employees working with private or multinational companies receive many employee benefits and these are counted as non-taxable during income tax filing. There are many types of benefits that many MNCs offer to their employees to ease their daily working life. The first facility to be mentioned is the cab facility transfer that many companies provide… Continue reading All The Employee Benefits You Receive Are Exempted From Income Tax Liabilities