The Form 26AS is extremely important because it establishes the amount of tax deducted and collected at the source on taxpayer's behalf
An Indian taxpayer is allowed to claim the credit for the amount of any foreign tax paid by him/her in a country or specified territory outside India
Some taxpayers complained that interest and late fee was charged while filing income tax return (ITR) after July 31, 2021
Income earned by displaying manual or intellectual skills comes within the purview of income from a profession as per prevalent laws
Overnight, the decision removes the nagging spectre from the minds of prospective foreign investors about the ease of doing business in India
Overall, a user can claim up to Rs 5 lakh deductions being first-time home buyers and home loans taken for the same
NRIs are taxed on the income they receive or are deemed to receive in India and accrue/arise or are deemed to accrue/arise in India
GST registration applies to all commission and brokerage income irrespective of the taxpayer's turnover limits
The deadline for filing declaration under the scheme ended on March 31
Due to the amendment in Section 1961 of the Income Tax Act, necessary changes have been made in the ITR form