Generally, Income Tax Return is to be filed by the individuals, if their income exceeds the threshold limit of Rs. 2.5 lacs, set up by the Ministry of Finance, Government …
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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.
The transactions done by the individuals in higher denominations is tracked closely by the Income Tax Department. As a matter of legal obligation provided through Income Tax Act, 1961 – …
High End Value Transactions Tracked by Income Tax Department Read More »
Through the Union Budget of Assessment Year 2021-22, the Finance Minister Nirmala Sitharman introduced the new tax regime with lower income tax slab rates. The taxpayers which are either individuals …