Pre-Filing Penalty Payment for Belated Income Tax Returns (ITR) 2023
Filing an income tax return (ITR) is a crucial obligation for every individual earning an income. However, life can sometimes get in the way, causing one to miss the ITR…
Section 54, 54EC, 54F: Capital Gain Tax Exemption in 2023
Capital Gain Tax Exemption in 2023 In India, capital gains tax applies to profits earned from selling assets such as real estate or investments in stocks and mutual funds. However,…
ITR Filing 2023: Belated vs Revised vs Updated ITR
Filing income tax returns (ITR) is a critical responsibility for taxpayers, ensuring compliance with tax regulations and avoiding penalties. However, situations arise where individuals miss the original deadline or realize…
How to Check Your ITR Refund Status Online in India?
Filing income tax returns is an essential obligation for taxpayers in India. Sometimes, taxpayers pay more tax than they owe due to tax deductions at source, advance tax payments, or…
E-filing Income Tax Returns for Individuals with Capital Gains
The income tax return (ITR) form that taxpayers must use for filing income tax returns depends on their residency status and the sum of their various sources of income. ITR…
E-filing Income Tax Returns for Companies: Procedures and Guidelines
The benefits of electronic filing over manual filing have increased its popularity in recent years. By being informed of the qualifying requirements and advantages of e-filing, businesses can decide the…
New Income Tax Slabs FY 2023-24: Understanding India’s Tax System
New Income Tax Slabs FY 2023-24 In India, income tax is vital to the country's revenue generation. It is calculated using income tax slabs and rates applicable for each financial…
Income Tax Return (ITR) Filing 2023: Which ITR Form Should You File?
Last Date For ITR Filing 2023 Income tax return (ITR) filing for FY 2022-23 ends on July 31, 2023. Avoid penalties; file on time! A penalty of ₹5,000 for income…
Pay Your Income Tax Effortlessly Using PhonePe App
Pay your Income Tax Using PhonePe PhonePe introduces an Income Tax payment feature on its app, enabling easy payment for individuals and businesses. Paying your income tax can become daunting…
How do you E-file Income Tax Returns for HUFs?
According to Indian law, a Hindu Undivided Family (HUF) is a recognized legal entity. It is a special kind of business association comprising Hindus who share a similar ancestor. The…