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Search results for: Income tax Act

Budget 2022 Expectations for Personal Accident Insurance

Budget 2022: Personal Accident Insurance Expectations, Tax Deduction & Low GST Rate

Policyholders do not have the major intention about the personal accident insurance covers. However, it is an essential cover for the majority of the people it is not being purchased normally. If in the union budget 2022 they mentioned that provide the tax deduction towards the premium furnished to buy the Personal accident insurance then […]

Income Tax Relief for Disabled

Tax Relief for People with Disability & Their Dependents

International Day of Persons with Disabilities appears on Dec 3 which seems to assist the right the well-being of people who are held with some sort of disabilities. The person who lives with the kind of disability or furnishing towards the maintenance or any medical treatment of the disabled family member can avail of both […]

Not Get Full Tax Refund, Reason Here

3 Big Examples to Understand Why Not Get Fully Tax Refund

Did you furnish a less amount of tax refund with respect to your claim during filing of the ITR for FY 2020-21? If yes then there are similar people who pose the same issues there are various tax returns filers this year who received lower tax refunds this year. The reason behind this was that […]

Revision Guidelines of Tax Audit Reports

Full Concept of Tax Audit Reports Revision with Guidelines

The investigation of the books of accounts of the assessee is called a tax audit, which is done by a Chartered Accountant under the Income Tax Act 1961. Section 44AB functions through the situation under which the tax audit becomes essential for specific assessments. The purpose of the tax audit is to validate the accuracy […]

Claim 4 Tax Deductions While Using Pre-filled ITR Forms

Don’t Miss Tax Deduction to Claim Using Pre-filled ITR Forms

When you furnish the ITR in the current year through pre-filled forms, then you can not claim the specific tax deductions that do not show on your Form 26AS or new I-T Annual information statement and thus do not get auto-populated in the income tax return forms. You do not need to think about filing […]

All About Small Company

Important Characteristics of Small Company with Benefits

The thought of the small company was started in the Companies Act 2013 to furnish specific benefits for small businesses that are functioning as private limited companies. Small companies are the supporters of the country’s economy. What is a Small Company? Small companies are said to be private limited companies, partnerships, or sole proprietorships that […]

Tax Deduction Under Section 80EEB on Electric Vehicles

Tax Deduction on Loan Interest While Buying EVs U/S 80EEB

The government of India has declared in the union budget for 2019 an incentive to buy electric vehicles (EVs). Inside the budget, the finance minister has specified that the advanced battery and the enrolled EVs shall be motivated by the policy. The latest section 80EEB of the Income Tax Act 1961 has started which permits […]

Main Difference Between New and Old Tax Regimes

Solved! Confusion Between Old or New Tax Regimes for ITR

This is the time of year when employees of many firms start receiving requests to share details of their tax-saving investments with their employers. However, before that, you have to choose whether you want to opt for the new tax regime or the old tax regime. Budget 2020 has come up with a new tax […]

Compute Tax on Freelancing Income

Easy Tax Computation on Freelancing Income with Taxability

With the better feasibility despite the former jobholders seems to do the freelancing on the sideways in all the industries along with the sales, education, delivery, IT, and data processing. The supplemental income earned via independent work needs to be provided to the tax below the income tax act. Income Tax Return On Freelancing The […]

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