Filing ITR Filing ITR, In India, not everyone is required to file an income tax return (ITR). The requirement to file an ITR depends on various factors, including the individual’s age, income level, and the type of income earned during the financial year. Here are some general guidelines regarding who needs to file Filing ITR:… Read More »
ITR 3 vs ITR 4 difference ITR 3 vs ITR 4 difference are two different income tax return forms in India, applicable to different types of taxpayers. Here are the key ITR 3 vs ITR 4 difference. Applicability: ITR-3: This form is specifically applicable to individuals and Hindu Undivided Families (HUFs) who generate income… Read More »
ITR filing Without Aadhaar OTP ITR filing without Aadhaar OTP: As of September 2021, filing an income tax return in India without Aadhaar OTP (One-Time Password) authentication is not possible. Aadhaar OTP is one of the methods provided by the income tax department for electronic verification of ITRs. It allows taxpayers to verify their… Read More »
ITR file The filing of Income Tax Returns (ITR) typically starts after the end of the financial year. For individuals, the due date for ITR file is usually 31st July of the assessment year. However, the exact dates may vary depending on the specific assessment year and any extensions or changes announced by the tax… Read More »
When ITR filing starts The filing of Income Tax Returns in India typically starts on 1st April of the assessment year. The assessment year is the year immediately following the financial year for which the ITR is being filed. For example, if you are filing an ITR for the financial year 2022-2023, the assessment year… Read More »
Is ITR filing mandatory Filing an Income Tax Return (ITR) is an important responsibility for every taxpayer, but many people often wonder if it is mandatory in every case. The answer depends on various factors such as your income level, age, and sources of income. What is ITR Filing? Income Tax Return (ITR) is… Read More »
Is stolen cash deduct in tax returns? When it comes to filing taxes, there are many deductions and credits that taxpayers can claim to reduce their taxable income. However, one question that often arises is whether stolen cash can be deducted from one’s tax return. The answer is not straightforward and involves a deeper look… Read More »
Tax deduction What is TDS? TDS stands for Tax Deducted at Source. It is a system introduced by the Income Tax Department of India to collect tax at the origin of income. According to this system, a person (referred to as the deductor) responsible for making certain payments (like salary, rent, professional fees, etc.) is… Read More »
Can TDS be deducted on the accreditation fee The answer to this question depends on the specific circumstances and nature of the accreditation fee. In general, TDS (Tax Deducted at Source) is applicable to certain types of payments made by businesses, such as salaries, rent, and professional fees. If the validation fee can be classified… Read More »
TDS Certificate Required Introduction Tax Deducted at Source (TDS) is an essential component of tax compliance in many countries. A TDS certificate is issued to the taxpayer as proof that tax has been deducted and deposited with the government. It is an important document for both the deductor and the deductee, ensuring transparency and accuracy… Read More »