5 Tax Saving Mistakes and its Solutions

Today earning money is the most important part of our life and it is also right to say that saving it is also as important as earning. The best way to save the money is to get the advantage of tax saving deductions means to minimize the tax outgo as much as it is possible. … Read more

Section 54EC- Save LTCG by Capital Gain Bonds

Nowadays every taxpayer is eager to discover avenues whereby he or she can reduce the tax liability. One of the most celebrated ways to reduce tax is to invest in capital gain bonds. Here we will talk about National Highway Authority of India (NHAI) or by the Rural Electrification Corporation Ltd [or any other notified … Read more

TDS on Salary: Easy Way to Calculate TDS on Salary

The most confusing concept in whole TDS is “TDS on Salary” as readers always asked questions about the topic. In this article, we will cover all the topics related TDS on salary like how to deduct TDS on salary, how to calculate tds on salary, deposit TDS, submission of statements, time of deduction, annual salary … Read more

ITR-U Updated Income Tax Return – Complete Detail

Income Tax Updated Return (ITR-U) For the persons to update income within 24 months from the end of the relevant assessment year Why ITR-U  The department has provided the additional time of 24 months to file an updated return whether you have filed income tax return previously or not. So, you can say that there … Read more

GST Return Filing Service – Error & Hassle Free GST Filing

Hiring a dedicated GST expert should be simple Choose your plan, GST expert will call you and get all the business detail. We’ll take care of all GST returns. Fixed monthly rate for unlimited advice for GST related queries on call. See Pricing Hassle-Free GST Filing Service All GST Returns Filing GSTR-2A Matching Error-Free GST … Read more

How to File Income Tax Return Without Form 16?

Form 16 is a certificate issued by employer for the TDS deducted by employer on the salary of the employee. The employer has to issue the Form 16 once in a year on before 31st May of the next year immediately following the financial year in which the TDS is deducted. Form 16 is a … Read more

GST Calendar March 2022 – GST Compliances Due Dates

GST Calendar March 2022: This page is about to list all due dates for GST Compliances for the month of March 2022. Please check the below table to find the due dates for GST compliances in the month of March 2022. The tax consultants and taxpayers registered under GST should complete all the formalities before … Read more

How Much Does it Cost to Set up a Company?

Whenever a person has a business idea, he also has to think of its cost to set up it. Generally, people think of setting up a company as it has some advantages. The cost of setting up a company is to be analyzed before setting up it. The cost of setting up a business depends … Read more

Interest 234A under Income Tax Act

In case of income tax return is filed after the specified due date or is not filed at all, simple interest is payable on the amount of tax assessed as reduced by the amount of advance tax paid, TDS/TCS. The interest rate is @1% for every month (or part of the month) of delay, i.e. … Read more

Depreciation Rates Under Income Tax Act

Most Common Used Asset Depreciation Rates Depreciation Rates as Per Income Tax Act This depreciation table is application from A.Y.2018-19 onwards. Notes : 1. Buildings include roads, bridges, culverts, wells and tube wells. 2. A building shall be deemed to be a building used mainly for residential purposes, if the built-up floor area thereof used … Read more

SBI PPF Interest Rate & Maturity Period

The State Bank of India offers the option to invest in PPF to existing users and new users of its bank. The channel is aimed to create a habit of savings among the people of India, along with creating a reliable pool of investment which can be used by the banks from time to time. … Read more

5 Benefits to Open PPF in SBI

The SBI PPF account is one of the smartest ways to save tax and build a steady habit of savings. Apart from that, the SBI PPF account offers numerous benefits to the account holders which includes appointing a nominee and transferring the PPF account to some other banks as well. Given such credibility, it is … Read more

How to Open PPF Account in SBI?

Today, the PPF account has become an important consideration for every individual who has a source of income. The facility of PPF not only offers an individual with the benefit of making savings on a regular basis, but also allows a person to save taxes. One of the most recognized ways to invest in PPF … Read more

Paid Life Insurance Premium! Remember to Claim Tax Benefits

Life insurance premium protects one’s life as well as it is a great tool for tax planning.It helps to save tax. Life insurance premium is the amount paid by a person for buying a insurance policy. The life insurance company provides a lump sum amount at the end of term which is called maturity in … Read more

LIC Tax Deductions & Benefits (A.Y.2022-23 & A.Y.2021-22)

The first thing comes in our mind is LIC (Life Insurance Premium) or LIP whenever we talk about deduction under section 80C. But you all know it is only one of the part or deduction along with other deductions comes under section 80C. Life Insurance Premium paid on the life insurance policies issued by LIC … Read more

Tax Benefits When Car is Provided by Employer to Employee

We can see this generally that company is providing cars to its employees for doing the official duties. These cars are generally provided by the employer of your company and are used by employees. Cars are used for both official and personal purposes. Employees get confused about the tax-ability of owning car and leasing a … Read more

Free Income Tax Ready Reckoner A.Y.2022-23 & A.Y.2021-22

Free Income Tax Ready Reckoner A.Y.2022-23 & A.Y.2021-22 Income Tax Rates – Individuals Income Tax Rates – Partnership Firms Income Tax Rates – Companies Capital Gains Tax Rates Cost Inflation Index List of Exemption Available in Computation of Capital Gains TDS Rates TCS Rates Depreciation Chart – Income Tax Act Interest Payable Chart – Income … Read more