Income Tax

What Happens If You Miss Due Date For Filing Income Tax Returns

January 25, 2022 expert

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What Happens If You Miss Due Date For Filing Income Tax Returns? For the Assessment Year 2021-22, or the Financial Year 2020-21, the final declared due date to complete the filing of ITR or Income Tax Return was 31st of December 2021. More than 5 Crore ITRs were filed before the final due date prescribed […]

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Income Tax

How to E-Verify Your Income Tax Return

January 22, 2022 expert

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How to E-Verify Your Income Tax Return? When you file your Income Tax Return or ITR, the next step would be to complete the verification of the same. Only if your return is verified and confirmed will it be processed by the Income Tax Department. As a result, we can also say that you or […]

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Income Tax

Retrieving the Income Tax Login Credentials

December 9, 2021 expert

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Retrieving the Income Tax Login Credentials Indian citizens or assesses who are holding PAN cards or numbers and having or earning income from different sources are required to file Income Tax Returns or ITRs for every assessment year based on the income earned during the financial year. The financial year is starting from the 1st […]

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Income Tax

Marginal Relief Under Income Tax Act

November 9, 2021 expert

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Marginal Relief Under Income Tax Act Marginal relief restricts your income tax payable to 40% of the difference between your total income and your exemption limit. Where marginal relief is granted, you receive no further credits on your income. Marginal Relief will only be given to you where it is more beneficial than using your […]

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Income Tax

Taxation on Sale of Movable Asset

October 27, 2021 expert

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Taxation on Sale of Movable Asset Movable assets are nothing but physical objects like cars, equipment, manufacturing machines, or other materials. It includes, “corporeal property of every description, except land and things attached to the earth or permanently fastened to anything which is attached to the earth”. In short, we can conclude that it is […]

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Income Tax

INCOME TAX ON FUTURES & OPTIONS AND TURNOVER CALCULATION

October 26, 2021 expert

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Income Tax on Futures & Options and Turnover Calculation Futures & Options or F&O, has started to attract interest from a lot of investors in the market lately. But one major mistake that all of them commit is that they do not report the same in their Income Tax Return (ITR), especially when they make […]

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Income Tax

Basics of the Income Tax Act, India that every Indian citizen should Know?

July 28, 2021 expert

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Basics of the Income Tax Act in India that every Indian citizen should Know? Are you just pass out from the college and searching for a job? Or you already have a job and going to file your first income tax returns? If the essence of income tax confuse you? WE are here to guide […]

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