Income Tax

Every Indian someway or other invest their savings in a stimulating way in different segments. The most significant problem is almost 87% of individual and salaried are not aware of tax on investment income in India. The rate of return is different for every category of investment, but very few are aware of the role … Read more

You are a taxpayer, it doesn’t mean you only make mistakes, sometimes the Income-tax department also makes mistakes due to some technical glitch. In this article, we will learn about mistake rectification under section 154 of income tax act. Before moving ahead: What is section 154 of Income Tax Income tax rectification has executed both ways … Read more

Filling of Income Tax return for the salaried, individual or a small businessman is a project to execute in time and as per norms. During filling the return most of the applicant either are not aware or unable to apply or Deductions under section 80 of the Income tax act. Income Tax Department provides benefits … Read more

National Pension Scheme NPS is largely focused on one’s retirement. While up to 60% of the maturity corpus can be withdrawn as a lump sum on maturity, the balance is compulsorily annuitized for pension purpose after retirement. National Pension Scheme (NPS), everyone heard about it, In this article, we will cover all about NPS features, … Read more

Section 44ADA of Income tax act for AY 2019-20 Section 44ADA was introduced from 01 April 2017, focusing on the income of professionals under the presumptive professional scheme. Section 44ADA is as similar to section 44AD, the only difference is the section 44ad head Presumptive Professional Income for small business and Section 44ADA is for … Read more

Section 44AD: Presumptive Income under Income Tax Act FY 2018-19 [AY 2019-20] Section 44AD Presumptive Income under Income Tax Act under this scheme a small businessman with a turnover of 2 crores can opt for section 44ad. Features of this scheme – Section 44AD The turn over must be less than 2 crore 6% (in the … Read more

It is a nice feeling to get paid at the end of every month for all the effort you put in your work and every salaried employee is very much excited for the annual increment from their employer. On the other hand, you are getting closer to the grip of the income tax department. It … Read more

Excel based Income Tax Calculator for FY 2018-19 – AY 2019-20 Every individual is troubling to get the final amount and unable to play with exemption section like 80C, 80D, 80E, 80DD, 80DDB, 80G, 80TTA. I have never understood the real concept of HRA exemption in my early days when I have started taxation. Also Read:- Credit Card … Read more