Income Tax

Tax evasion is an unlawful conduct in which an individual or business avoids paying a genuine tax due on intentionally. Tax evasion is committed to reflect...

If you failed to file ITR of last 3 years and are worrying about the consequences, then you should go through this article which discusses the possible sol...

According to the Income Tax Department, those with high income need to disclose certain assets in their Income Tax Return. The objective behind this disclo...

An assessee earning beyond the basic exemption limit in a Financial Year is required to file a statement that contains his income details, deductions and o...

The Income Tax Act 1961 lays down rules concerning payment of income tax in India. Therefore those coming under the ambit of taxable bracket should pay tax...

The Ministry of Finance recently extended deadline for online filing of forms that fall under the Income Tax Act 1961. This decision was made considering t...

Form 16 and Form 16A are crucial for taxpayers due to their essential role in determining the payable tax amounts. They come in handy while filing Income T...

With Form 29B, companies disclose book profits certified by a CA for a particular assessment year according to the provisions laid down under section 115JB...

When you start earning money, remember that some part of such money belongs to the government. In simple words, you will have to pay taxes and file Income...

You may have heard salaried employees asking for Form 16 to file their annual Income Tax Return. However, very few know that one can file ITR online even w...

Tax Planning, Tax Avoidance and Tax Evasion are separated by minuscule margin. Tax Planning is legal but not tax evasion, and as far as tax avoidance is co...

Depreciation under Income Tax Act refers to a deduction permitted for a reduction in the real value of a tangible/intangible asset used by the taxpayer. Th...