Category: News
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Top 7 Unusual Ways to Save Income Tax
For most people, paying income tax at the end of a financial year is a cumbersome task. A majority of the hustle revolves around planning the submission of insurances, rent and other receipts in a way that leads to the lowest possible tax liability. Income tax planning need not be a cumbersome task when you…
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Budget 2022-23 Explained: 7 Major Changes Proposed In The Budget
Finance Minister Nirmala Sitharaman outlined the budget for 2022. According to a lot of tax experts, the 2022 budget is financially sound. The biggest highlight is definitely the digital currency tax has been proposed with several other changes. In this blog, let’s have a look at the main findings: New updated return Budget 2022 introduces…
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Budget updates 2022- Direct Tax
As the finance minister presented the budget 2022, here are the updates related to direct taxation: – Provision for filing ?Updated Income Tax returns? within 2 years from the end of relevant Assessment Year. With this, if any taxpayer forgets to disclose the income in the ITR, he can disclose the income and pay the…
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Everything About Submission of Investment Proof To Your Employer
As the financial year is about to end, we again have to buckle up for the investments and savings to keep our future secure. But before you buckle up for this year, have you submitted proofs of the investment (investment proof) declared for the FY21-22? To avoid higher taxes and to obtain tax rebates, we…
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Latest Update: For the Assessment Year 2021-22 Due Date for Tax Audit Cases Extended
In light of the difficulties reported by taxpayers and other stakeholders as a result of COVID and electronic filing of various audit reports under the provisions of the Income-tax Act of 1961 (Act), the Central Board of Direct Taxes (CBDT), in exercising its powers under Section 119 of the Act, relaxes the following requirements: In…
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Only One Day Left To File ITR: Here Are 6 Things To Keep In Mind
For those who are unfamiliar with the process, filing an income tax return (ITR) can be a daunting task. Because this is a complicated and technical procedure, there is a great risk of making mistakes if you provide wrong or incomplete information. Especially if you are filing your income tax return on the last day,…
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Why ITR Filing Date May Get Extended Beyond 31 December 2021? Find Out Here!
Will the income tax filing date extend beyond 31st December 2021? Find out here!
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All You Need to Know About Taxation on Sales of Agricultural Land in 2021
As India is primarily an agrarian economy, persons who make a living from agriculture are granted a variety of incentives and benefits. For instance, farmers in India are exempted from paying any tax on their income from agricultural land under the country’s income tax regulations. However, this does not mean that no tax is levied…