Income Tax

Amount paid by the employer in the head of the arrears of salary, have you ever thought of tax relief under section 89(1) on salary arrears: No, Most of us don’t know what is relief under section 89. Most of the employee says it “relief 89“. This article is all about “How to calculate income tax … Read more

If you are entitled to get the income tax refund that means, you are a lucky man 🙂 Income tax department not only levies income tax on your income but also refund the excess amount back to you under Section 244A income tax refund. I personally feel proud and happy when I get the message … Read more

Income taxpayers not only appreciated but also participate in the economic growth of the country. Income tax department completely supports the deceased person (death accrued during road accident) under section 166 of the motor act 1988 income tax return. Who is to file Income tax return of the deceased is a different segment, but in … Read more

If you are looking for PROVEN and fastest way to SOLVE an issue on How to calculate capital gains tax on property & How to save tax? this post is for you. When I personally think about the property/house and taxation, there are several questions arise. I have tried to cover almost every related query … Read more

“Notice” word itself bring a lot of panic among the taxpayer. Income Tax Notice is not always brought you into trouble but also keep you away from it. However, Some Income Tax Notice is harmful and some are harmless. In this article, you will surely understand the kind of Income Tax Notice, intimation u/s, the reason behind the … Read more

Excel based Income Tax Calculator for FY 2019-20 – AY 2020-21 This excel-based Income tax calculator can be used for computing income tax on income from salary, pension, gifts, fixed deposit and bank interest, house rent and capital gains (short and long term gains). Highlights of Changes in FY 2019-20 in Income Tax return Form: … Read more

Where to fill home loan interest in ITR 1? most of the taxpayer (mostly first-time users) really are confused. Income tax department grant relief for the taxpayers especially for those like salaried employees, self-employed or a small business person having a home loan. The home loan consists of two parts. Principal amount Intrest amount The … Read more

Income tax return of minor in India, what is minors according to income tax? – Any person under the age of 18 is considered a minor age for income tax in India. If you dive deep the tax implication in case of minor income is not so complicated. The income tax department doesn’t restrict you … Read more