The tax rebate u/s 87A allows a taxpayer to reduce his/her tax liability marginally depending on the net total income. In this article, we will cover the eligibility, steps to claim, points to keep in mind while claiming the rebate....

Budget 2023 Updates The amount of advance tax paid is reduced only once for computing the interest payable u/s 234B if the taxpayer files an updated ITR. Advance tax is paid on income that one earns during the year, usually...

Tax liability is the debt every individual, corporate, institution owes to the Central Government of India. The taxability, rate, type of tax depends on the type of income and the statutory body regulating such taxation. The taxes collected from the...

Taxation is an important source of revenue for any government. This helps in the economic growth of a country along with infrastructure development in a country. The constitution of India gives the authority to the government of India to collect...

What is Tax Year? The 2022 tax year is the assessment year 2022-23 and previous year 2021-2022 in India. A financial year (FY) is the period between 1st April to 31st March, the year in which a taxpayer earns his...

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...

Budget 2023 Updates The conversion of physical gold to Electronic Gold Receipt and vice versa does not result in capital gainsDeduction under section 54 and section 54F is capped to Rs 10 croresIncome from market linked debentures are taxed as...