Who needs to file an ITR Individuals and entities that are liable to pay income tax in India are required to file an Income Tax Return. Let’s define Who needs to file an ITR Filing Income Tax Returns is necessary because it’s a legal requirement and it helps to declare income accurately, calculates tax liability,… Read More »
ITR with form 16 ITR with form 16, to file your Income Tax Return (ITR) using Form 16, which is a certificate issued by your employer summarizing your salary income and tax deductions, you can follow these steps: 1. Gather your documents: Collect all the necessary documents, including your Form 16 and other relevant… Read More »
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 »
Is tax on capital gains to be paid separately from income tax Yes, tax on capital gains is calculated and paid separately from income tax. Capital gains tax is a tax levy on the profits earn from the sale of capital assets, such as property, stocks, and other investments. The tax rate and rules for… Read More »
Tax planning for property Sale Tax planning for property sale, Capital gains tax: As an 80-year-old individual who is selling his own earn immovable property. May be liable to pay capital gains tax on the sale, depending on the specific details of the transaction. Capital gains tax is a tax levy on the profit earn… Read More »
User Intent Users searching for this topic want to understand whether Provident Fund (PF) qualifies for tax benefits under Section 80C of the Income Tax Act, 1961. They are likely looking for clear explanations, benefits, limitations, and a comparative analysis with other tax-saving options. Introduction Tax planning is an essential part of financial management.… Read More »
