Tax

Deductions for Rent paid

When it comes to minimizing our tax liabilities, exploring various deductions and exemptions provided by the Income Tax Act is essential. One such provision that can benefit individuals who do not receive or who are not eligible for house rent allowances is Section 80GG.
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Tax Compliance & Statutory Due dates for June 2023

Important due dates for the GST Returns in the Month of June 2023
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Income Tax E-Verification Process

Filing your income tax return is an essential responsibility for every taxpayer, ensuring compliance with tax regulations and contributing to the smooth functioning of the economy. After successfully filing your tax return electronically, the next crucial step is to e-verify it. E-verification is the process of validating and authenticating your tax return filing electronically, eliminating the need for physical verification.
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How to make PTRC Payment

How to make PTRC Payment

Tax Compliance & Statutory Due dates for May 2023

Important due dates for the GST Returns in the Month of May 2023
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Deduction of payment to MSMEs

Every business can claim deduction of payments made to the vendors on accrual basis. This means that business can claim deduction of payments to vendors which are not paid in actual but are due for payments as on the last date of the financial year and/or even until filing the return of income.
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INCOME TAX RATES FOR A.Y 2024-25 (FY 2023-24)

1. Individual (Resident or Resident but not Ordinarily Resident or non-resident) other than Senior Citizen & for HUF:
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Senior Citizen – Exempt from Filing their ITR

To make tax compliances hassle-free and to provide relief to senior citizens, Government of India through Union budget 2021 came up with a new section which provides conditional relief from filing the Income Tax Return. As per Section 139 of Income Tax Act, every person who has a taxable income is required to file Income Tax Return.

Tax Compliance & Statutory Due dates for June 2022

Important due dates for the GST Returns in the Month of June 2022
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Additional Deduction of Interest on Housing Loan

Any taxpayer who has purchased or constructed a house with a borrowed capital is allowed a deduction with respect to interest paid on such loan under section 24(b) of the Income Tax Act.
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