It is income tax filing season and everyone must be having queries or questions on income tax returns and income tax filing. Income Tax Queries are bound to arise and you must know the answers. Here are some income tax queries in India answered. This is only in the Indian context and should not beRead More
Tax
Skip Filing ITR When Income Less Than 5 lakhs
Some good news after all ! If you are salaried and have income less than 5 lakhs, your IT returns are no longer a necessity ! You might not be required to file an income tax return (ITR) provided you meet some conditions. It must be noted that the exemption from filing the income taxRead More
Guidelines to File Your ITR form
The income tax return filing season is finally upon us and you must be wondering what possibly could be the easiest way or some guidelines to filing your ITR form. At the same time, you might be having many questions like do you need to file your returns in the first place; whether you needRead More
How is Income from House Property Calculated
The Income Tax Act of India has five heads of income, of which “Income from House Property” is one of them. This article teaches- how to find the income from the home you own or how is income from house property calculated In order to calculate the income from house property, one needs to knowRead More
What is Annual Value of House Property ?
The Income Tax Act of India has five heads of income, of which “Income from House Property” is one of them. In order to calculate the income from house property, one needs to know the annual value of the property. The annual value of a house property is the basis to calculate income under thisRead More
Section 80C Deductions to Save Income Tax
This article explains how the income tax Section 80c deductions of the Income Tax (IT) Act can help reduce your income tax liability in your yearly financial planning. Though most of us use some of the deductions under Section 80C each year, we might be doing so unknowingly. Read on to understand what are theRead More