ITR for non-salaried person For non-salaried individuals in India, the Income Tax Return (ITR) form to be filed depends on the nature and source of income. Here are the common ITR forms applicable to different types of non-salaried individuals: ITR-1 (Sahaj): This form is applicable if you have income from salary, one house property,… Read More »
Importance of Bookkeeping for Businesses How Does Bookkeeping Help a Business? Bookkeeping is one of the fundamental pillars of any successful business. It involves the systematic recording, storing, and organizing of financial transactions. Though it might seem like a mundane task, effective bookkeeping is essential for managing the financial health of a business and… Read More »
TAN Registration Process TAN registration process, To generate a TAN (Tax Deduction and Collection Account Number) on the Income Tax website in India, please follow these steps: Visit the Income Tax e-Filing website: Go to the official website of the Income Tax Department for e-Filing, which is https://www.incometaxindiaefiling.gov.in/. Ensure that you are using the… Read More »
ITR filing for business In India involves the submission of the business’s income tax return with the Income Tax Department. Here are some key points to consider for ITR filing for businesses: 1. Choose the Right ITR Form: Depending on the nature of the business and the income earned, different ITR forms may be applicable.… Read More »
ITR for capital gains If you have capital gain, you will generally need to file ITR-2. Income Tax Return-2 is applicable for individuals and Hindu Undivided Families (HUF) who have income from sources other than business or profession. These are typically categorized as “Income from Capital Gains” in ITR-2. However, it is important to… Read More »
ITR for Salary and Share Trading If you have income from salary and share trading, you will generally need to file ITR-2. ITR-2 is applicable for individuals and Hindu Undivided Families (HUF) who have income from sources other than business or profession. Income from salary and income from share tradings fall under the… Read More »
ITR Filing is Mandatory Income tax return (ITR) filing is mandatory in several situations in India. Here are ten common scenarios where individuals are required to file their ITR: ITR filing is mandatory in 10 situations: 1. Income above Basic Exemption Limit: If your total income before claiming any deductions exceeds the basic exemption… Read More »
GST tax collection authority GST tax collection authority, In the realm of Goods and Services Tax (GST) in India, a tax collector denotes an individual or entity entrusted with the task of gathering and remitting GST payments to the government for the purpose of GST tax collection authority. The following entities are typically… Read More »
Eligibility for GST registration Eligibility for GST registration, GST (Goods and Services Tax) registration in India is required for various entities involved in the supply of goods or services. The following individuals or entities are typically require to take GST registration: Regular Taxpayers: Businesses with an annual aggregate turnover exceeding the prescribed threshold limit… Read More »
Where to file ITR Where to file ITR, Income Tax Returns (ITR) in India can be filed electronically through the official website of the Income Tax Department of India, known as the e-Filing website. Here are the steps to file ITR in India: 1. Visit the e-Filing website: Go to the official e-Filing… Read More »
