ITR Without Form 16 Yes, you can file an Income Tax Return (ITR) without Form 16. Form 16 is a TDS certificate issued by your employer that provides details of the salary paid to you and the taxes deducted at source (TDS). However, if you have the necessary information regarding your income and deductions, you… Read More »
GST registration taxpayer or tax deductor GST registration taxpayer or ta deductor: GST registration is applicable to both taxpayers and tax deductors, but the specific requirements and processes may vary. Let’s understand each category: 1. Taxpayer: A taxpayer is a person or entity that engaged in the supply of goods or services and required… Read More »
ITR Filing Without Tax Payment: Filing an Income Tax Return (ITR) is a legal obligation for individuals and entities whose income exceeds the prescribed limit under the Income Tax Act. However, not everyone who files an Income tax return is required to pay tax. Many people believe that filing an Income tax return… Read More »
File ITR 4 To file your Income Tax Return (ITR) using ITR-4 form, which is applicable for individuals, Hindu Undivided Families (HUFs), and partnership firms having income from a presumptive business, you can follow these steps: 1.Gather your documents: Collect all the necessary documents, including your business income details, bank statements, invoices, expenses records, and… 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 »
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 »
TDS Certificate Required TDS certificate required, TDS (Tax Deducted at Source) certificates are vital for providing conclusive proof of tax deduction at the source and play a critical role in enabling various procedures associated with income tax compliance. The following are key reasons highlighting the importance of TDS certificates: Proof of Tax Deduction: TDS certificates… Read More »
Heads of income Under the concept of total income, there are various heads or categories of income that are considered for the purpose of computing an individual’s or a business’s overall income. The specific heads of income may vary depending on the tax laws and regulations of a particular country. However, the common heads of… Read More »
ITR Filing Assessment Income Tax Return (ITR) filing is an annual obligation for taxpayers, and it is crucial to stay informed about the timelines to ensure compliance and avoid penalties. For individuals and businesses alike, understanding when ITR filing starts is essential for effective financial planning and timely submission. Here’s an overview of when you… Read More »
How much GST-registration can be issued on one PAN number In India, a business or individual can have multiple GST registrations under a single PAN (Permanent Account Number). However, there are specific scenarios that determine the need for multiple registrations. 1. Different States If a business operates in multiple states, it must obtain separate GST… Read More »
