Post by: Renu Suresh in ITR-1
Income Tax ITR Filing Due Date Filing Income Tax Returns (ITR) is a fundamental responsibility for every taxpayer in India. It ensures compliance with the country's tax laws and involves reporting all sources of income, deductions, and tax liabilities to…
Post by: Renu Suresh in ITR-1
How to File Income Tax Return of Deceased Person in India The season for filing income tax returns is here again! Typically, the deadline for individuals to file their returns is July 31, 2024, for the financial year 2023-24. We…
Post by: Renu Suresh in ITR-1
New Tax Regime vs Old Tax Regime As the assessment year 2024-25 approaches, taxpayers need to grasp the intricacies of the existing and newly introduced tax systems. This article delves into essential elements like deductions, carry-forwards, and other pertinent regulations…
Post by: Renu Suresh in ITR-1
How To File Nil Income Tax Return? Many individuals earning less than Rs. 2.5 lakh in a financial year, they believe they don't need to file an income tax return. However, it's essential to understand that even though an Indian…
Post by: Renu Suresh in ITR-1
What is Income From Other Sources? The Income Tax Department categorizes income into five distinct heads: Salary, House Property, Business/Profession, Capital Gains, and Income from Other Sources. The last of these, Income from Other Sources, is a catch-all for earnings…