What is allowance in income tax?

Taxable Allowance Taxable allowances are those allowances which are part of salary and are not exempted under any section of Income Tax Act. These are taxed as per the tax …

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What are Allowances and types of Allowances?

Taxpayers are usually aware of deductions under Section 80C of the Income Tax Act for which they are eligible. However, it is noticed that taxpayers are unaware of taxability of …

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Income Tax Return filing procedure

The Income Tax Return filing procedure can be extremely tedious and time-taking, especially for first-time filers, but having all the documents ready before hand makes the job a tad bit easier. There are exactly …

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There are 7 types of ITR forms, you know which income tax return form to fill?

ITR Form 1- This type of ITR form is also known as ‘Sahaj’. It is filed if you are an individual taxpayer. It is applicable if you: ·         Earn income …

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What are Annual Reports and Understanding them

What are Annual Reports? An annual report is basically a comprehensive report on a company’s activities throughout the preceding year. It is a publication that public corporations must provide annually to shareholders to It …

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Income Tax Return: Filing ITRs to become easy as CBDT notifies new Form 26AS

Now your form 26AS will not just have information about total income tax paid or refund received, but also about pending and completed proceedings under Income Tax Act. The Central …

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Income Tax Relaxation In Covid-19 Relief Packages

Nirmala Sitharaman finance minister has announced new tax measures for the Covid-19 relief package. As Prime Minister Narendra Modi has earlier promised an economic relief package for Indian people in …

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