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ITR 2 - can be used by all those persons who are not eligible to use ITR 1 and their source of income does not have any ...
30/11/2022

ITR 2 - can be used by all those persons who are not eligible to use ITR 1 and their source of income does not have any business or professional income.

PC -

the Income Tax Department has categorised taxpayers into many groups based on income and its source. So, you need to fil...
29/11/2022

the Income Tax Department has categorised taxpayers into many groups based on income and its source. So, you need to file your returns accordingly. ITR-1, also known as Sahaj Form, is for a person with an income of up to Rs.50 lakh.

In simple words, paying tax liabilities before the end of a financial year is called an advance tax or pay-as-you-earn s...
26/11/2022

In simple words, paying tax liabilities before the end of a financial year is called an advance tax or pay-as-you-earn scheme. It is payable when the tax liability of an individual exceeds Rs.10000 in a given financial year. Such tax is paid in instalments on due dates and is paid in the same year the income is generated. 

Gratuity is a relief for the employee or his family as a monetary benefit given by the employer. The provisions of gratu...
25/11/2022

Gratuity is a relief for the employee or his family as a monetary benefit given by the employer. The provisions of gratuity are governed by the Payment of Gratuity Act, 1972.


Golden Rules of Accounting.Financial accounting is more than just book-keeping. In accounting, every transaction has a d...
22/11/2022

Golden Rules of Accounting.

Financial accounting is more than just book-keeping. In accounting, every transaction has a dual entry – debit and credit. It is important to identify which account has to be credited and which one debited. Lets see the Three Golden rules of accounting.

Heads Of Income Tax.There are five main income tax heads for an individual.Income from Salary, Income from House Propert...
21/11/2022

Heads Of Income Tax.
There are five main income tax heads for an individual.Income from Salary, Income from House Property, Income from Profits and Gains of Business or Profession, Income from Capital Gain, and Income from Other Sources.



Income tax is a form of direct tax collected by the income tax department of india. As a taxpayer, you pay this charge a...
19/11/2022

Income tax is a form of direct tax collected by the income tax department of india. As a taxpayer, you pay this charge as per the tax slab rate applicable to you. However note that in india, taxes are not levied in uniform manner. instead, income tax rate differ as per the category you fall under and your net annual income, as determined by the central government.



Income tax is a form of direct tax collected by the income tax department of india. As a taxpayer, you pay this charge a...
18/11/2022

Income tax is a form of direct tax collected by the income tax department of india. As a taxpayer, you pay this charge as per the tax slab rate applicable to you. However note that in india, taxes are not levied in uniform manner. instead, income tax rate differ as per the category you fall under and your net annual income, as determined by the central government.





Edits :

Surcharge, Marginal relief and Health and Education Cess.Income tax surcharge is an additional charge that you need to p...
16/11/2022

Surcharge, Marginal relief and Health and Education Cess.

Income tax surcharge is an additional charge that you need to pay on income tax. Surcharge on income tax is levied if Income is more than Rs. 50 Lakhs in case of Individuals and Rs. 1 Crores in case of Companies. Rates are given in categories.



TDS Sec 194G - Commission on Sale of Lottery Tickets.
12/10/2022

TDS Sec 194G - Commission on Sale of Lottery Tickets.




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