Deduction 80C

Clause 80C of the Income Tax Act of India is a provison that focuses to different consumptions and investments that are excluded from Income Tax. It takes into account a …

Read More

What is PAN Card

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated tamper proof card, by the Income Tax Department of India. While many of us …

Read More

New Provision Of Income Tax

Prime Minister’s announcement of 13th August 2020 comprises of reforms in respect of following four broad areas of work of Income Tax department: 1. Faceless Assessment Scheme, 2. Expansion of …

Read More

New introduced Income Tax scrutiny criteria

Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2020-21 —conduct of assessment proceedings in such cases – regarding. – Cases pertaining to survey u/s 133A …

Read More

How to select right ITR Form

Income Tax Return (ITR) is a form in which the taxpayers file information about his income earned and tax applicable to the income tax department. The department has notified 7 …

Read More

Cost Inflation Index

The price of a product increase overtime, and this brings down the purchasing power of money. Say, if 5 items can be bought for Rs. 500 today, tomorrow you may …

Read More

Capital gain and types of capital gain

The tax that is levied on capital gains is termed as capital gain tax. Such taxes are levied when an asset is transferred between owners. Though all capital gains are …

Read More