Income Tax season can be droubling, but with careful planning and strategy, you can significantly reduce your Income tax burden. Understanding how to save on taxes not only puts more money in your pocket but also ensures you’re making the most of available opportunities. Tax saving plans As the financial year draws to a close, … Read more
File Your ITR without Form 16? Yes, it’s possible. Know how to file it using payslips, bank statements & Form 26AS. Many people have questions about filing tax returns, especially whether it’s possible without Form 16. Here’s a guide for filing your ITR for FY 2023-24 (Assessment Year 2024-25). What is Form 16 and Why … Read more
Avoid a ₹10,000 penalty! Learn how to keep your PAN card information accurate, why two PAN cards are illegal, and how to fix mistakes on your existing card. Your PAN card is a vital document in India. It’s needed for opening bank accounts, making large transactions, and buying valuables. However, inaccuracies in the PAN card … Read more
Know about Form 12B and Form 12BA in simple terms. Understand the difference between these income tax forms and their importance for accurate tax calculations. Income tax forms can be confusing, especially for those who are new to the workforce or switching jobs. Two essential forms for employees and employers are Form 12B and Form … Read more
Know about the tax implications of UPI transactions in India. Find out how UPI transactions are taxed and how to report them in your ITR. The rise of UPI, or Unified Payments Interface in India has made transactions easier, fast and more convenient. However, with the increase in digital payments, it is essential to understand … Read more
Understand the role of AIS and TIS in income tax. Know how these statements help in accurate tax filing, what information they contain, and how to access them. When it comes to filing income tax returns, accuracy and transparency are crucial to avoid any discrepancies or issues with the tax authorities. To ensure that taxpayers … Read more
Learn the difference between instant PAN card and regular PAN card. Understand the benefits, application process, and timeline for both options. Get your PAN card today. In India, a PAN (Permanent Account Number) card is a crucial document for financial transactions, tax payments, and identity proof. When it comes to applying for a PAN card, … Read more
Know about the benefits of filing a nil ITR in India, who should file it, why sould file it and how to file it. Understand the tax implications and exemptions. A Nil Income Tax Return, or Nil ITR, is simply a way to tell the Income Tax Department that you earned less than the limit … Read more
Know who pays income tax on child’s income in India. Understand the income tax rules and exceptions for minors. Get clarity on filing income tax returns for your kid’s income. As a parent, you work hard to provide for your child’s future. But did you know that your child’s income may be subject to income … Read more
Understand the tax free income sources in India that can help you save your hard-earned money from taxes. Learn how to minimize your tax liability with these exemptions. Tax planning is an essential aspect of personal finance. While paying taxes is a civic duty, it’s equally important to know about tax-free income sources. Taxes are … Read more