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Who can claim deduction under section 80DD?
To claim a tax deduction under Section 80DD, the taxpayer must provide a copy of the medical certificate that verifies the dependant's handicap
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Income tax dept reminds taxpayers to file ITR on time
The CBDT had extended the last date of filing income tax returns to December 31, 2021.
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What is income clubbing under taxation?
Income clubbing refers to earnings on investments made by you on behalf of a close relative, such as a minor kid, spouse, or daughter-in-law.
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Understand the difference between AY and FY in taxation
A tax return should be filed in the Assessment Year, which is the year after the end of a financial year
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You may need two separate accounts within EPF from FY22
Rule 9D provides for separate accounts to be maintained within the provident fund from this fiscal year
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Filing belated ITR? Here's what you need to know
Losses on capital gains and losses on business and profession shall not be carried forward in case of belated ITR filing
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Income Tax: Step-by-step guide on how to get Form 26AS
The Form 26AS is extremely important because it establishes the amount of tax deducted and collected at the source on taxpayer's behalf
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Explainer | Income Tax: New vs old regime
The basic exemption limit of income tax is for an income of 2.5 lakh, which means no tax is cut if you are earning up to Rs 2.5 lakh.
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Know if you are eligible for tax refund
Taxpayers may claim a refund on their income tax if their tax liability is less than the total of their withholding taxes and estimated taxes paid
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Investing in section 80C? Avoid these common mistakes
Section 80C of the Income Tax Act 1961 allows for a deduction of up to Rs 1,50,000 on specific investments
