What is Residential Status? The residential status of a taxpayer is important because the income tax department provides for a different tax treatment for its taxpayers. Hence, it is imperative for every taxpayer to determine their residential status before doing...

What is professional tax? Professional tax is a tax that a state government levies on any individual who earns income through any medium. Unlike the name suggests, professional tax is not just for professionals but for all individuals. The list...

The Income Tax Department has launched its new e-filing website on the 7th of June, 2021. This new portal will soon replace the existing portal www.incometaxindiaefiling.gov.in. The new portal is user-friendly and focuses on making the entire e-filing experience easy,...

The Income Tax Department has launched its new e-filing website on the 7th of June, 2021. This new portal will soon replace the existing portal www.incometaxindiaefiling.gov.in. With the main focus on a user-friendly e-filing experience for the taxpayers, the new...

Income from other sources is one of the heads for the classification of income as per the income tax. It can be considered as a residuary head of income that covers all the incomes which are outside the scope of...

What is Income from House Property Under Section 24? House property for the purpose of income tax is any property whether land or building which an assessee owns during the financial year. The house property could be a house, building,...

incometax.gov.in portal helps the taxpayers to file their returns along with the facility to view the taxpayer’s information relating to pending notices, previous year returns, etc. How to File Income Tax Return Online?  Time needed: 10 minutes. Login or Register to...

What is DTAA in India? DTAA stands for Double Taxation Avoidance Agreement, which is a bilateral agreement between India and another country. The purpose of DTAA is to prevent double taxation of the same income in both countries. India has...