Why take Health insurance for family to save tax Section 80D provides a deduction for contribution towards the health insurance premium to the extent of Rs 25,000 paid for self and family. If the policyholder is a senior citizen, the benefit can increase to Rs 30,000. Mostly people take only this benefit into account and […]
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.
Carry Forward and Set Off of Losses whilst one endeavors to derive earnings, the opportunity of incurring losses cannot be dominated out. based at the ideas of herbal justice, a fixed-off must be to be had for loss incurred. The earnings tax legal guidelines in India comprehend this and offer for adjustment and utilisation of […]
Income Tax audit under section 44AB Articles deals with Tax Audit Provisions in India. It explains what’s tax audit, goal of tax audit, who is compulsorily required to get his money owed audited, What are form Nos. 3CA/3CB and 3CD, Due Date for Tax Audit, penalty for now not getting the accounts audited as required […]
Presumptive earning under income Tax Act, 1961 Presumptive earnings is the idea introduced with the aid of the earnings Tax department beneath the Presumptive Taxation Scheme with a view to permit the assessee to disclose his profits on presumptive foundation under the relevant sections and their provisions thereof. allow us to understand them in detail.
While filing Income Tax Returns NRIs need to know these things Income earned by NRI from abroad is not taxable within India.Some NRIs also have an earning in their motherland country, India in the form of interest from deposits, House property , etc. This income has a basic limit of exemption, which is Rupees Two […]