ITR 3 Income Tax Form


ITR 3 return form is used by an individual or a HUF who is a partner in a firm and not carrying out business or profession under any proprietorship. Also Read: 7 Easy Steps to e-file your Income Tax Return… Continue Reading


Introduction to Capital Gains

capital gains

Any profits or gains arising from the transfer of a capital asset effect in the financial year will be chargeable to income-tax under the head Capital Gains. Capital Assets Capital assets include the following: Any kind of property held by… Continue Reading


ITR 2A Income Tax Form


ITR 2A is an income tax return form for individuals and HUFs who have salary income and own more than one house property and do not have capital gains. Who is eligible to file using the ITR 2A form? This… Continue Reading


Income Tax Form ITR 2


The ITR 2 form is the income tax form for individuals and HUFs who do not have income from business and profession. The due date of filing the ITR 2 form with Income Tax Department is 31 July every year. The… Continue Reading


TDS – Tax Deducted at Source


TDS is means of indirect tax collection by the income tax authorities in India, under the provision of the Income Tax Act, 1961. TDS is managed by the Central Board of Direct Taxes (CBDT) and is part of the Department… Continue Reading


Form 15G and Form 15H to Save TDS on Interest Income

Form 15G and Form 15H are self-declaration forms required to be furnished by the assessee to the bank. Bank will deduct TDS when the interest income is more than ₹10,000.00 in a year. You can submit Form 15G or Form… Continue Reading


Start Your Tax Planning Early

Tax Planning We often make the mistake of investing at the last hour when our company asks for proof. Don’t delay it, start tax planning now. Early tax planning will also ensure that you fully acknowledge and understand your financial situation,… Continue Reading


Income Tax Deductions Section 80C

Section 80C

You can claim ₹150,000.00 as deductions under section 80C of Income Tax Act 1961. That is, you can reduce up to ₹150,000.00 from your total taxable income through Section 80C. This deduction is allowed to an individual and an HUF.… Continue Reading


Best 5 Tax Saving Investments

Tax Saving Investments

Tax Saving Investments Investments in tax saving investments can claim deductions under section 80C of income Tax Act 1961. The maximum deduction is allowable under this section is ₹150,000.00. If you are investing in following investments, you can claim deductions… Continue Reading


Deduction 80D: Tax Benefits on Health Insurance

Health insurance policy not only gives insurance cover to a taxpayer but also provides certain tax benefits. Health insurance or Medi-claim policy is a must for all because should you fall sick or meet with an accident, your medical bills… Continue Reading


What is Income Tax Form 16?

Form 16 is a certificate or a document issued by companies to their salaried individual in India. The certificate carries all the required details that help the employee in filing their tax returns with Income Tax Department of India. The… Continue Reading


ITR 1 Sahaj Income Tax Form

ITR 1 Sahaj form has been released by Income Tax Department of India. ITR 1 Sahaj is the income tax return for salaried individuals. Individuals having income from salary, pension and interest income can use this form. Also Read: 7… Continue Reading


Income Tax Rate AY 2016-17/FY 15-16

Income Tax Rate

Income Tax Rate for the Assessment Year 2016-17 (applicable on income earned during 01.04.2015 to 31.03.2016) for various categories of Indian Income Tax payers. Income Tax Rate 1.Individual (resident or non-resident) or HUF or Association of Person or Body of… Continue Reading


ITR Forms AY 2016-17/FY 2015-16

ITR Forms has been released by the Income Tax Department of India for the Assessment Year 2016-17 i.e. Financial Year 2015-16. All taxpayers having income more than Rs. 5 Lakhs are required to submit their tax return online. There are different ITR… Continue Reading