Due dates for compliances in June, 2021
These compliances details comprises of due dates of Income tax, GST, EPF & PF for June 2021. Having stating this, these Compliances can help the assessee in planning his schedule. …
Income Tax
know Tax benefits on health insurance and medical expenditure
In these unprecedented times, we all have realised that ‘Our Health is Our Wealth’ and in order to keep us protected from these uncertain times, we have taken every possible measure to meet the medical expenditures, if needed. Further, to promote health planning and well being of the people, Section 80D of the Income Tax Act was introduced by the legislature. This section allows deductions on the health insurance and medical expenditures incurred by the persons. Through this, double benefits are provided to persons – one to the policy holder or his family members and the other is tax benefit to the person.
Know Penalty for Late filing of ITR (Section 234F)
It is a settled law that every person who has earned income above the basic exemption limit has to file Income Tax Return during each financial year. Further, these ITRs …
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How to File ITR online for Salaried Employees
As per the Income Tax laws, any individual whose primary source of income is salary has to file Income Tax Return-1 or ITR-1 form, commonly known as SAHAJ form.
Know Key Changes in EPF Contribution Taxability
In the last year’s Union Budget of 2020, the Finance Minister Smt. Nirmala Sitharaman had capped the tax exemption on employers contribution to Provident Fund, National Pension Scheme and superannuation …
Important Due Dates for Various Compliances in March, 2021
The month of March is the last month of the financial year. To give taxpayers one last time opportunity, various departments have also extended the due dates and the last …
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Tax Saving Fixed Deposit : 12 Things you should know
Fixed Deposits (for short: FD) is a tax saving instrument offered by banks as well as Non Banking Financial Companies to its customers/depositors. These deposits usually provide a higher rate …
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Know about Clubbing of Income of Husband & Wife
Clubbing of income, as the name suggests is the income of one person is clubbed with the income of the another person. Many of the persons think that if they …
Documents required to Update PAN Card Details
PAN Card holds an important role not just in filing of Income Tax Returns but for other purposes as well. Read this blog to know documents required required to update …
Know Steps to Update Details on PAN Card
The PAN Card details can be updated through filling of Form 49A. This can be done through process online or offline procedure. There are two PAN issuing authorities in India …