Stay informed about the ongoing Fake GST Registration Drive in India. Learn about the 5 essential steps to avoid fines and penalties during GST officer visits to your business premises.
When applying for a credit card, financial institutions often require applicants to submit their Income Tax Returns (ITRs) as part of the application process. The ITR serves as proof of income and helps the credit card issuer assess the applicant’s financial stability and repayment capacity.
Explore the tax implications of winnings from online gaming platforms like Dream11 in India. Learn about the classification of income, taxation rates, TDS deductions, reporting requirements, and compliance measures. Ensure accurate filing to avoid penalties.
Uncover who is obligated to file an Income Tax Return (ITR) in India. Explore criteria based on income, age, and sources of income. Whether you’re an individual, NRI, business owner, or involved in high-value transactions, understanding ITR requirements is crucial.
The Indian Income Tax Department has recently opened the ITR-2 filing window, enabling individuals and Hindu Undivided Families (HUFs) to report their non-business income from various sources. ITR-2 holds significant relevance for taxpayers who earn income from sources such as salary, pension, house property, capital gains, or other non-business sources, making it imperative for taxpayers […]
In this article, we will explore the significance of balance sheets and profit/loss accounts in loan applications, examining their purpose, key components, and why lenders rely on them to assess borrowers’ eligibility.
Discover effective tax-saving strategies for salaried employees in India. Learn how to leverage allowances, deductions under Chapter VI(A), and exemptions to optimize your tax planning. Maximize take-home income through smart investments and compliance with recent tax reforms.
Learn how to file your Income Tax Return (ITR) offline in India with this step-by-step guide. Download the relevant ITR form, fill it accurately, gather supporting documents, compute tax liability, and submit the ITR form by generating a JSON file. Follow these instructions for a smooth offline filing experience.
Presumptive taxation scheme is a simplified tax system that is designed to provide relief to small taxpayers from the burden of complying with the complex tax laws. Under this scheme, taxpayers are allowed to declare their income based on a presumptive income, which is determined by the tax authorities based on certain presumptions about the taxpayer’s income and expenses.
Explore the old vs. new tax regime in India and determine which one is better for you. Understand the income tax slab rates, deductions, and exemptions under each regime. Make an informed decision for the financial year 2023-24.
