ITR filing

Form 10IE is mandatory for ITR Filing in new regime

Form 10IE is mandatory for ITR Filing in new regime

The Government of India has given the opportunity to the taxpayers for selecting either of two income tax regimes. The new tax regime was launched in the Union Budget 2020. Both of these regimes have pros and cons. Thus, Taxpayers must choose wisely between these two as both of these regimes involve complex concepts necessary … Read more

Know Income Tax on Agriculture Income

Know Income Tax on Agriculture Income

Farmers in India are reported to form the majority of the country’s workforce. It is the primary source of income for the vast majority of India’s rural people. The country as a whole is completely reliant on agriculture to provide its basic food needs. Therefore, the government has announced several schemes and benefits to boost … Read more

Keyman Insurance Policy- Tax saving Tool

Keyman Insurance Policy- Tax saving Tool

When a family’s primary breadwinner passes away, his or her death benefits might assist cover the costs of the household. This is a well-known fact.  However,  The idea that life insurance may perform a similar function in the version of Keyman insurance for businesses is less widely understood. In this article, you will understand the … Read more

Benefits of Filing Income Tax Return on Time

Benefits of Filing Income Tax Return on Time

Income tax returns (ITR) are only necessary for India if an individual’s taxable revenues exceed the Rs 2.5 Lakhs exemption threshold for the fiscal year. NIL tax returns are not required for individuals whose gross income falls below this threshold. However, it’s still a good idea to file a tax return even if your tax … Read more

Union Budget 2022: Hike in Tax Exemption Limit for NPS

Union Budget 2022 Hike in Tax Exemption Limit for NPS

With the goal of supporting macroeconomic growth, the Union Budget also aims to provide all-inclusive benefits at the microeconomic level as well, said the Union Finance Minister Smt Nirmala Sitharaman while presenting the 2022-23 Union Budget in Parliament on 1st February 2022. As a result, there were several new benefits offered for Taxpayers in India. … Read more

Govt Extends Reduced Corporate Tax upto next fiscal year

Govt Extends Reduced Corporate Tax upto next fiscal year

The Union Budget 2022, delivered on Tuesday by Finance Minister Nirmala Sitharaman, was praised for its focus on growth and for introducing several new updates. One of the most significant updates for corporations is the extension of reduced or concessional tax rates. In this article, you will understand the latest updates as the Govt Extends … Read more

Tax Incentives extended for Startups

Tax Incentives extended for Startups

The announcement by Hon’ble Union Finance Minister Nirmala Sitharaman that tax advantages would be extended till is a big boost for startup entrepreneurs. Last year, the Indian government extended the deadline for entrepreneurs to obtain tax exemptions until March 31, 2022. In light of the COVID-19 outbreak, the government has declared Tax Incentives extended for … Read more

Tax on Crypto Transactions – Budget 2022

Tax on Crypto Transactions - Budget 2022

Nirmala Sitharaman, India’s Finance Minister, ensures that the government will implement a Digital Rupee in the fiscal year 2022-23 and levy a tax of 30% on virtual assets during her presentation of the Union Budget 2022. Thus, crypto trade lovers in India now have to face Tax on Crypto Transactions. In this article, let us … Read more

Difference between Form 16 and Form 16A

Difference between Form 16 and Form 16A

Form 16 and Form 16A are both required for Income tax return filing. These forms are furnished by the employers to the employees specifying the tax deduction during the assessment year.  However, there is a significant difference between Form 16 and Form 16A. In this article, you will understand the difference between Form 16 and … Read more