Tax

So let’s break this word and try to understand. Income tax is the tax that every resident in the country pays to its government from the income that they make.…

Advance tax is paid during the year to provide the government with funds for day-to-day operations, rather than at year's end. Now, should you be paying for it? If you…

So tax is computed based on all your incomes received in the previous year. Similarly, any tax saving investments or tax saving expenses is also considered only if done for…

So let’s say you have your HRA component clearly mentioned in your salary breakup, but your employer did not let you claim it because you did not submit your investment…

Look, whether it is the old tax regime or the new tax regime, incomes from both your employers are added together under the head income from salary and this is…

If you’re paying an annual rent of more than 1 lakh rupees, then compulsorily you will have to submit your landlord PAN to your employer so that your employer deduct…

In India, there are three types of years. There are normal birthdays that you celebrate. That is the year that you consider aging is called the calendar year. It starts…

If your total deduction is below Rupees 1.5 lakh, the new tax regime is always better. If deductions exceed Rupees 3.75 lakh, the old regime is definitely more beneficial. For…

Yes, you have to file ITR as our income tax works on the basis of an honest system. Since your income was below the basic exemption limit of 3 lakh…