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Income Tax Help, Income Tax Updates, News

Have you filed income tax return yet? If not, then it’s a must for you to know about changes in ITR form as a result of extension in due date.The extension in ITR filing due date by the CBDT has surely given a reason to rejoice for all the taxpayers.But this extension have brought some changes in IT return forms. Hence it is imperative for you to remain updated with recent changes in ITR form before filing tax return.For those who got-up late this morning, CBDT has extended incometax returnSEE DETAILS

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Blogs, Income Tax Help, Income Tax Learning, Income Tax Saving

Constructing/ purchasing a new house is not an easy task. A common man exhausts all his life’s saving & also take a home loan to make this dream a reality. Hence to help the citizens, income tax act provides deduction of interest paid on home loan under Section 24.Section 24 of income tax act says that, if any house is acquired, constructed using borrowed capital. Then interest paid on such borrowed capital is eligible for deduction & the amount of deduction is as follows:CaseMaximum Interest Deduction (₹) Capital is borrowedSEE DETAILS

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Blogs, Income Tax for Starters (Basics), Income Tax Help, Income Tax Learning

When it comes to income tax efiling many taxpayers face confusion in Assessment Year and Financial Year. They tend to presume both as the same thing & this leads to problem while e filing incometax returns. To help filing income tax return in a smooth & hassle-free manner, we bring this blog to solve all your queries related to assessment year and financial year.  Financial YearFinancial year is the year in which you have earned the income (starting from 1st April & ending on 31st March). The term “Financial Year”SEE DETAILS

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Blogs, Income Tax Help, Income Tax Learning

We all know that IT return filing is mandatory in certain cases and shall be filed before due dates. Generally, what people know of being a must income tax return filing situation is having income above taxable limits of ₹ 2,50,000/ ₹ 3,o0,000 / ₹ 5,00,000.  These limits are without giving effect to Chapter VI-A (Section 80C – 80U) deductions. Well, there are several other Special Cases When it is Mandatory to do incometaxefiling, such as possessing few assets explained below.HouseOwning a house in your own name is a bliss!!SEE DETAILS

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Blogs, Income Tax Help

Many people face confusion between intraday gain & loss v/s capital gain. They tend to understand both as one & this leads to trouble in the form of penalties, notices from the incometax department.This blog will help you understand the concept of intraday gain & loss, its tax-ability, applicable IT return form & much more.What is Intraday Trading?When people purchase & sell stock on the same day then it is known as intraday trading. The investors aim to make profit on the volatility of stock price on a same day.SEE DETAILS

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