Income of a self-employed individual can be calculated on presumptive basis under section 44ADA of IT Act.
A senior citizen taxpayer can file a declaration to ensure that TDS is not deducted from their deposit interest income
Employer-provided concessionary loans have tax implications as a perquisite
Form 16 is a certificate in which your employer certifies the amount of salary you earned throughout the year and the amount of TDS deducted
The basic exemption limit of income tax is for an income of 2.5 lakh, which means no tax is cut if you are earning up to Rs 2.5 lakh.
Taxpayers may claim a refund on their income tax if their tax liability is less than the total of their withholding taxes and estimated taxes paid
SBI's multi-option deposit account is the only one in the market to allow this facility of liquidity in fixed deposits
While safety holds supreme to conservative investors, taxes matter too. Consider post-tax returns when you are comparing two investment options
Several individuals including avoid filing income tax returns as they do not want to declare their earnings from various sources
How to file ITR: If you approach a bank for home, car or personal loan, they ask for your income tax return filings of previous years