Income Tax

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Income Tax

Disclosure of Assets in your Income Tax Return

Disclosure of Assets in your Income Tax Return

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...

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Income Tax

Know the Various Types of Income Tax Assessments

Know the Various Types of Income Tax Assessments

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...

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Income Tax

Govt. extends deadline for online filing of Forms under...

Govt. extends deadline for online filing of Forms under Income Tax Act

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...

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Income Tax

All about Form 29B under Income Tax Act, 1961

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...

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Income Tax

Know this if you are a first-time ITR Filer

Know this if you are a first-time ITR Filer

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...

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Income Tax

Filing ITR Online without Form 16: Step by Step Procedu...

Filing ITR Online without Form 16: Step by Step Procedure

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...

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Income Tax Taxation

Controversies and Case Laws relating to Tax Avoidance...

Controversies and Case Laws relating to Tax Avoidance

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...

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Income Tax

The Concept of Depreciation under Income Tax Act

The Concept of Depreciation under Income Tax Act

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...

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