Form 15G is a form that is used by Indian residents to avoid Tax Deduction at Source (TDS) on interest income earned from fixed deposits, recurring deposits, or any other interest-bearing deposits. In this article, we will discuss on Form 15G Download in Word Format & PDF Format and how to fill it and submit … Read more
Tax harvesting is a strategy employed by individuals and businesses to optimize their tax liabilities. In India, where taxation plays a significant role in the financial landscape, tax harvesting has gained popularity as a means to minimize tax burdens and maximize savings. This article explores the concept of tax harvesting in India, its benefits, strategies, … Read more
When it comes to financial planning, one of the crucial aspects is tax-saving. In India, individuals have various options available to reduce their taxable income and optimize their overall tax liability. Understanding the best tax saving option can help individuals make informed decisions and achieve their financial goals while minimizing their tax burden. Importance of … Read more
Income Tax in India is a form of tax levied by the Central Government on the income of individuals, businesses, and corporations. It is a crucial part of the country’s revenue collection and plays a significant role in the economic growth of India. These forms serve as a means for the government to gather information … Read more
Salaried people in India often face the challenge of maintaining a balance between their expenses and income. Although many companies provide their employees with a decent salary, it may not always be sufficient to meet their needs. This is where special allowances come into play. In this article, we will discuss the various special allowances … Read more
The concept of Advance Tax in India is one that is relatively unknown to the general public. While most people are aware of the basic concept of taxation, few are familiar with the intricacies of Advance Tax. In this article, we will take an in-depth look at what Advance Tax is, how it works, and … Read more
Tally ERP (Enterprise Resource Planning) is an accounting and financial management software developed by Tally Solutions Pvt. Ltd. It is a comprehensive business solution that helps businesses manage their financial operations, including accounting, inventory management, invoicing, banking, payroll, and taxation, among others. In this article, we will discuss advantages of tally software and other aspect … Read more
LPA = Labor Pension Act The Labor Pension Act (LPA) is an important piece of legislation that is designed to protect the rights of workers in India. The act was first introduced in 1952 and has been amended several times since then. In this article, we will explore the LPA Full Form, its history, key … Read more
Tax harvesting, also known as tax-loss harvesting, is an investment strategy that can be used to minimize the tax burden of investors. The process involves selling securities or investments that have lost value to offset capital gains taxes owed on profitable investments. In India, tax harvesting is a popular investment strategy among investors who are … Read more
Income Tax Return (ITR) is an important financial document that every taxpayer needs to file annually. It is a declaration of a taxpayer’s income, deductions, and taxes paid in a financial year. After filing ITR, it is important to verify it to complete the process. In this article, we will discuss how to do ITR … Read more
Leave Travel Allowance (LTA) is a type of allowance offered by employers to their employees as a part of their salary package. LTA is intended to cover the expenses incurred by the employee and their family members while traveling on leave from work. The objective of LTA is to provide tax benefits to the employees, … Read more
You must have filed your income tax return before 31st July 2022. Now you must be waiting for refund of income tax if you are eligible. Make sure few very important details are accurate on the income tax portal in order to get the timely refund. If these details are not accurate, you have to … Read more
The income tax department has reduced the timeline for ITR E-verification from 120 days to 30 days. It is mandatory to either submit the physical copy of your ITR (Income Tax Return) to Bangalore office or you can get the same ITR E-Verification online. Many of you may be thinking that mere submitting the ITR … Read more
The income tax department has launched a new income tax portal on 7th June 2021. The new e-filing portal is aimed at providing taxpayers a convenient and seamless experience. Today, in this article, we will discuss the features and benefits of the new income tax portal. Why New Income Tax Portal is required? Before we … Read more
Did you receive a notice from Income Tax Department recently? IT department has started a campaign, e-campaign notice to those people who have not filed their income tax return or not reported high-value transactions in their income tax statement. This notice has been sent for the income tax filing for the financial year 2019-20. There … Read more