Income tax rebate is partial or full refund of your income tax. Income tax rebate is different from income tax exemption. In income tax exemption income is partially or fully exempted from tax. Read here guide on income tax … [Read more...]
Individual Income Tax Return : A Guide
Individual Income tax return can be filed online or offline. As per income tax Act, Individual is included in the definition of a person as per section 2(31). Individual means a natural human being. First, you are required to find out that … [Read more...]
Income Tax Computation in Simple Steps
Income Tax Computation is calculation of total income and total tax liability of a person. Computation of Income tax can be done at the beginning of the year or at the end of the year. In the beginning of the year we calculate income tax based … [Read more...]
Equalisation Levy @ 6% by Budget 2016 in India
A new chapter “Equalisation Levy” is introduced by Finance Act 2016, in income tax act, 1961. By introduction of this levy many untaxed transactions of non resident companies will come under its radar. This tax is also called Google Tax, since … [Read more...]
7 easy steps for checking Income Tax Return Status
Have you checked your Income tax return Status? To know how to check how to check the income tax return status you need to know about the basics of income tax return filing. You can file income tax return in two ways: Offline income tax … [Read more...]
Tax Avoidance: A lawful Tax Planning Mechanism
Tax avoidance is not illegal but tax evasion is unlawful. Tax avoidance is planning of your income in such a way so that minimum or no is tax is paid. The planning may be related to timing of income, income heads under which it is to be … [Read more...]
10 Free Tax Saving Tips on How to save Tax
Tax saving Tips comes from the experience & practice of Income tax. I am sharing some of basics of tax saving tips gained from my last 10 years of practice with income tax. You should have basic knowledge of how income tax works in … [Read more...]
Income Tax Exemption for all persons: Say No to Tax
Income tax Exemption gives full or partial exemption from income tax. Income tax in India is Governed by income tax Act, 1961. Many of us get confused between tax exemptions and tax deductions. Tax exemptions are given on Income for which a … [Read more...]
BEPS : Base Erosion and Profit Shifting in India
BEPS stands for Base Erosion and Profit Shifting. BEPS are the guidelines issued by the organization of Economic Co-operation and Development (OECD) on putting a check on the foul play made by various multinational companies to avoid tax on the … [Read more...]
UTI Pan Card Status, Application & Correction
Are you here to check the UTI PAN card status? You are at right place. NSDL and UTI are authorized to Provide online and offline PAN card services in India. PAN card can be applied through any one of them. They both receive applications; … [Read more...]