As a citizen, filing income tax return (ITR) is not just your legal responsibility, but also your civic responsibility. The Government of India has made it mandatory for certain types of persons to file their income tax return. Filing an income tax return (ITR) offers several benefits, both in terms of compliance and practical advantages. In this article we will … [Read more...] about What are the benefits of filing income tax returns in India?
Income Tax
Income tax slabs FY 2024-25 (AY 2025-26) – New & Old Regime Tax Rates
We have two types of income tax slabs based on which tax rates are decided. They are referred to as; old tax regime and new tax regime.In Old tax regime we have following three categories defined based on the age of the taxpayer;Under the new tax regime we do not have any age wise categorisation. Slab rates defined under the new tax regime are applicable to everyone … [Read more...] about Income tax slabs FY 2024-25 (AY 2025-26) – New & Old Regime Tax Rates
10 things to remember while filing Partnership firms tax return
Partnership firm's income tax return is required to be filed with the government on or before the due date of filing for each financial year. Income tax return (ITR) has to be filed irrespective of loss or profit of the partnership firm. Filing of partnership firm's income tax return with the tax department is mandatory. Annual income tax return has to be filed even if the … [Read more...] about 10 things to remember while filing Partnership firms tax return
As a director, which income tax return form (ITR) should you file?
If as a director of a company, you are thinking of filing the income tax return form SAHAJ (ITR-1) for your salary income, then read this article before filing.Many taxpayers are confused while selecting the right form for their annual income tax filing.We have 7 different types of income tax return forms (ITRs) prescribed by the government of india for filing annual … [Read more...] about As a director, which income tax return form (ITR) should you file?
Income tax return filing for companies: All you need to know
In India, a company is registered with the ministry of corporate affairs (MCA). Post incorporation, a company becomes a separate legal entity.Permanent account number (PAN), TAN and other statutory certificates including PF and ESI registration, get issued in the name of the company at the time of getting certificate of incorporation. Registration related documents are sent … [Read more...] about Income tax return filing for companies: All you need to know