Income tax e-filing login is key to filing income tax in India. This guide will explain how to use income tax return login to pay income tax. Details needed for ITR login registration Valid … READ FULL STORY
There are numerous ways for senior citizens to make a living. It may come in the form of a pension, savings account interest, rental income, fixed deposit, reverse mortgage or another type of income. … READ FULL STORY
Leave Travel Allowance (LTA)/Leave Travel Concession (LTC) is an exemption granted to the salaried class under Section 10(5) of the Income Tax Act. When an employee retires or is let go from their job, … READ FULL STORY
Section 10A of the Income Tax Act, 1961 includes special provisions, which allow industrial undertakings to avail of certain tax deductions. The Supreme Court, in 2016, ruled that Section 10A of the Income Tax … READ FULL STORY
The term income tax is not defined under the Income Tax Act, 1961. However, the two terms have been separately defined. Income is defined under Section 2(24) of the Income Tax Act 1961, and the … READ FULL STORY
Money received as life insurance is considered income. On this income, the beneficiary has to pay taxes. However, tax deductions are also provided under Section 10 (10D) of Income Tax (I-T) Act of 1961. … READ FULL STORY
Income Tax (I-T) is levied by the government of India on the income of every person in India. The provisions governing the I-T are covered under the Income-tax Act, 1961. The last date to … READ FULL STORY
The Department of Income Tax sends a document to the taxpayer’s registered email address as proof of filing once you submit an income tax return. The Indian income tax return acknowledgement is the name … READ FULL STORY
Income details are classified under five heads mentioned under the Income Tax Act. One of these includes the ‘income from other sources’. The other four heads are ‘income from salaries’, ‘income from house property’, … READ FULL STORY
Life insurance policies are one of the most popular choices for tax savings in India. Under Section 80C, taxpayers in India can save up to Rs 1.50 lakh in a year against premiums paid to … READ FULL STORY
Before March 31, 2020, mutual fund houses collected Dividend Distribution Tax (DDT) on mutual funds. Dividends were tax-free in hands of investors. For equity schemes, at least 11.64% DDT was deducted and submitted to … READ FULL STORY
Electric vehicles (EVs) run on electricity, and as no fuel is required, they are regarded as energy-efficient vehicles. To encourage the use of EVs, the government has introduced a new section, known as Section … READ FULL STORY
Section 24 of Income Tax (I-T) Act is among many provisions that help taxpayers in India to save taxes. Section 24 is meant specifically to cut down on tax imposed under ‘Income from House … READ FULL STORY
