The Income Tax Return (ITR) is a form for declaring your tax liability, claiming the available exemptions, and reporting your gross taxable earnings. It is mandatory for taxpayers to file their ITRs if their incomes exceed the minimum exemption limits. All companies and firms, salaried and self-employed individuals, and Hindu
Taxes are important for the economic growth of a country. The money collected as tax is used towards smoothly running the nation without any issues. While selling goods and services, different types of taxes are levied at various stages. One such tax is the value-added tax, read on to know
Paying the tax dues in advance over the financial year is better than leaving it for the last minute, which can be stressful. Calculating the tax liability and paying it is a cumbersome process and being regular with payments can help avoid the rush at the end of the financial
Managing your income is important and requires knowledge and discipline. If you are a Non-Resident Indian (NRI), managing your earnings may be slightly more complicated. This is because you may have a domestic income like rent, dividends, pension, and much more in addition to your earnings in the country where
Whether your business is small, medium, or large, it will require funds for meeting regular operational expenses. Most companies raise funds either as equity or debt. Equity is promoters’ capital while debt can be raised from financial institutions, and even in some cases, from friends and family. When a company
According to the Income Tax Act, 1961 paying income tax is compulsory for individuals and companies if the annual earnings exceed a certain specified exempt limit. Taxpayers are given some exemptions and deductions under different sections of the Act. What is the income tax slab in India?Individuals across the
Technological advancement has modified the banking industry and transformed the communication between banks and their customers. Retail banking is changing by the day and traditional banks are facing competition from digital banks that offer access via an Internet-connected smartphone or any other device. Digitization allows you to access banking products
Tax deducted at source (TDS) aims to collect tax from the income source. The collector who has to make a specified payment must deduct TDS and remit this amount to the Central Government’s account. The deductee (from whose payment the TDS is deducted) receives credit for the same amount
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