Benefits available to senior citizens under income tax The Indian income tax laws provide certain tax Benefits available to senior citizens. Let us discuss those benefits. 1. Higher Basic Exemption Limits for senior citizens under income tax 2. Higher Deduction limit under Section 80D for senior citizens under income tax 3. Higher Deduction Limit for […]
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
Benami Transaction and Sham Transactions Prohibition of Benami Property Transactions Act, 1988, an act promulgated to prevent and prohibit “Benami” transactions in India on 5th September, 1988. The Act, 1988 has only 9 Sections and not so effective, while preventing and prohibiting “Benami” Transactions. The Act, 1988 previously called The Benami Transactions (Prohibition) Act, 1988.
Income tax department cautions TDS deductors against quarterly filing default The Income Tax Department (ITD) today cautioned TDS deductors to adhere to the stipulated deadline of May 31 for filing their statements failing which they would invite a penalty of Rs 200 for each day of default.
Which ITR form applies to you for the financial year 2017-18? The income tax authorities notified the new ITR form applicable for the financial year 2017-18 in April (online utility tools for a couple of forms have been published). An individual who is required to file a return of income for the financial year 2017-18 […]
How to Register Sole Proprietorship Firm in India? The sole proprietorship Firm type is the favorite business form for the small entrepreneurs. It simply allows starting a firm with small capital, short time frame. It requires a very simple process with minimal legal compliance and formation costs. Most of the local offline businesses prefer proprietorship. […]