Income Tax

Deepti Shikha

14 Apr, 2020

Section 80TTA of the Income Tax Act provides the privilege to claim deductions on savings accounts deposits that are held in a bank, post office, or co-ope...

Deepti Shikha

14 Apr, 2020

The Income Tax Act, 1961 allows deductions from the total gross income, before charging the tax, in case medical expenditure has been made on the treatment...

Deepti Shikha

24 May, 2024

The current FY 2019-2020 closed on March 31 as usual, and the new financial year 2020-21started from April 1, 2020. The Government on analysing the lockdow...

Deepti Shikha

01 Apr, 2020

Deferred Tax Asset or Liability is an integral part of the financial statements. Adjustments made in the year-end in the books of accounts affect the incom...

Monisha Chaudhary

10 Jul, 2023

Whenever the gross annual income exceeds the threshold of basic exemption limit of Rs 2.5 lakh, then that earning individual has to file an ITR (Income Tax...

Deepti Shikha

13 Sep, 2022

Income Tax is calculated on the taxpayer's total income earned or received during the financial year. An employee’s tax liability might increase on recei...

Ruchi Gandhi

30 May, 2023

The Tax Compliance Calendar for March 2020 is provided by the Income Tax and GST departments well in advance. As the end of the financial year 2019-20 is a...

Monisha Chaudhary

10 Jul, 2023

Filing of Income Tax Return is the process of submitting a declaration about the income earned and expenditure incurred by the concerned taxpayer in the pr...