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ITR-Forms-For-FY-2018-19(AY-2019-20)
Income Tax e-Filing, Income Tax Help, Income Tax Learning, Latest News

With the beginning of the new financial year, time for settlement of accounts and disclosing what one has earned in the previous year arrives. Such disclosure is required to be filed in the form of returns prescribed by Income Tax which are known as Income Tax Return (ITR) Forms. As always CBDT has notified the Income Tax Return forms for FY 2018-19( AY 2019-20). These ITR forms contain fields to furnish the relevant and required information. There are different ITR forms for different categories of taxpayers/ assessee/ user. In thisSEE DETAILS

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Tax-changes-from-April-2019
Income Tax Updates

Financial Year 2019-20 has begun!! April 2019 welcomes the beginning of the new financial year. What could be more interesting than taking a note of important tax provisions this very day!! Why to wait for the financial year to end and make tax planning a rush?? Let’s become a pro and know the 5 major tax changes pronounced in Interim Budget 2019. Mr Piyush Goyal presented the interim budget 2019 and some distinguished tax amendments were made. In this blogpost we have briefed five must know tax changes affecting yourSEE DETAILS

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EPF--Process-to-transfer-online,-Check-Transfer-Status
Income Tax Learning, Income Tax Saving

As an employee, you are entitled to provident fund, which is also known as Employee Provident Fund. But there are several questions which revolve around this concept like what exactly it means, who contributes to it and most importantly what happens to the fund when you change your employment. If you are looking for answers to the question above, then this is the right place for you. We have briefly covered the basics of EPF and EPFO in this blog. You will also find a detailed guide on how youSEE DETAILS

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E-Filing-Vault
Income Tax Learning

What is the e-Filing vault? Is it related to e-filing your Income tax returns? Is the e-Filing system a secure system? These questions might bother you if you come across terms like e-Filing vault and e-Proceedings. Fret not, this blog will explain everything about e-Filing fault and you can check out our other blog for information regarding e-Proceedings. What is the e-Filing Vault? e-Filing vault is a two-level authentication process which provides extra security to your e-Filing account. It protects your account from misuse and fraudulent activities. e-Filing Vault limitsSEE DETAILS

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What-is-Total-Income-and-How-to-Calculate-It
Income Tax for Starters (Basics)

Contents :- Why the calculation of Total Income (TI) important under the Income Tax Act? How Total Income is computed? Total Income (TI) or Gross Total Income (GTI) are the terms used interchangeably but differ in substance. Where Gross Total Income is calculated by summing up earnings received as per all five heads of income. Total income is arrived at after deducting from Gross Total Income deductions under Section 80C to 80U (namely, Chapter VI A deductions) under the Income Tax Act 1961. Which means GTI is a large componentSEE DETAILS

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What-is-Gross-Total-Income
Income Tax Learning

Tax in itself is a tedious phenomenon and the complexity increases when various terms are also added to the list. We all know that tax is levied upon income. But, income has been further classified and referred to by various names in India such as Exempt Income Taxable Income Total income Gross Total Income Etc. In this blogpost we will get you a detailed understanding upon Gross Total Income or GTI. What is the relevance of Gross Total Income? Why you should know about it? How it is calculated? TheSEE DETAILS

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Who-is-regarded-as-Assessee
Income Tax for Starters (Basics)

In Simple words, we can say that Assessee is a person who is liable to pay any tax or any sum of amount payable or have any obligation to pay tax as per the Section 2(7) of the Income Tax Act,1961. Also assessee can be termed as each and every person for whom Any proceedings have been taken under the act for the assessment of his income Fringe benefits, Income of any other person for whom he is considered accessible Any loss sustained by him or by such other personSEE DETAILS

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What-are-Revenue-and-Capital-receipts
Income Tax for Starters (Basics)

Receipts are the earning of the company and through it revenue is generated. Not all the receipts contribute towards the profit and loss in business. Receipts can be categorized as Revenue receipts and Capital receipts. To some extent, we can say that revenue receipts affect the profit and loss of the business and capital receipts don’t. For a better understanding of the revenue receipts and capital receipts let’s discuss these terms in detail. What do you understand by Revenue Receipts? Revenue receipts are money earned by a business through itsSEE DETAILS

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Section-80-GG--Deduction-on-Rent-Paid
Income Tax Saving

Contents :- What is Section 80GG as per Income Tax Act? How to claim deduction under Section 80GG? What will be the quantum of deduction under section 80GG? Examples on section 80GG. Who can claim Deductions under this section? What is the information required for claiming deduction under section 80GG? FAQ’s House rents can become a real burden mainly in the metropolitan cities where getting a house on rent is difficult. Since the demand for the rented house is so high, the rent also getting skyrocketed with every passing day.SEE DETAILS

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Double Tax Avoidance Agreement (DTAA) Guide

  When it comes to money, everyone wants to earn as much as possible, isn’t it? That is why you look for different investment avenues and wealth generation ideas both in India as well as abroad. In fact, foreign investments hold a particular attraction for most individuals. They try and invest their money in foreign countries which promise good return. But what about the tax implications on those returns? Do you know how and where your foreign returns would be taxed? Taxation of returns becomes a problem when two countriesSEE DETAILS

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