Income Tax Guides

itr 1

How to File ITR 1 Sahaj Form Online

ITR 1, also known as Sahaj Form is applicable to taxpayers who have earned less than Rs 50 lakh in the financial year. The income tax department categorizes the taxpayers on the basis of the total income and type of...

form 15g

Form 15 G

Form 15G is a self-declaration form submitted by the assessee to ensure no deduction of TDS on interest income earned in the financial year. The tax on total income must be nil along with a few other conditions. You can...

evc income tax return

EVC Income Tax Return

After successfully filing your income tax return, the next step is to verify your ITR. You must verify your income tax return with 120 days of submission of your ITR. The CPC will process your return only after verification. Hence,...

scripbox logo

Difference between Tax Exemption, Tax Deduction and Tax Rebate?

Tax is the biggest worry for most of us. Like me, there are many who do not understand the process and are worried about how to get through this during this time of the year. We either hire an expert...

form 16

Form 16

What is Form 16 in Income Tax? Form 16 in income tax is a TDS certificate that every employer must issue to its employees under section 203 of the Income Tax Act, 1961. The employer must mandatorily issue it on...

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income tax refund status

Guide on How To Check Income Tax Refund Status Online?

What is an income tax refund? An income tax refund arises when the tax paid by the taxpayer is higher than the tax liability at the time of filing the income tax return. The tax paid by the taxpayer can...

gift amount not taxable in india

Amount received as gift by any blood relative living in US is not taxable in India

This article was first published on livemint. I am a US resident and gifted money to my parents in India. They invested that in mutual funds in their name. Are there any tax implications for me? Any amount received as a...

income tax payment

Online Income Tax Payment

Income tax is a tax levied by the government of India on the income of every person. Once a person is liable for income tax payment to the government, a question arises as to how this tax payment can be...