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There some Common mistakes to avoid during tax season Which are going to discuss in this article. Also We will know what What Income Tax Returns? How to get the ITR Refund Status in India. Income tax in India can be imposed on profits made from businesses that are registered with the Income Tax Department … Read More “Mistakes to Avoid During ITR Filing in India” »
During an audit, the accounting records of the company are examined in order to determine whether they are correct and if their functions are legal. Choosing a tax audit over a statutory audit is often confusing for people. Tax audits are conducted under the Income Tax Act, while statutory audits are performed under the Company … Read More “How Do Tax Audits and Statutory Audits of a Company Differ?” »
The country has many rules and regulations. Some of these include audits for counting costs, stock audits, company audits, tax audits, etc. An income tax audit, as its name suggests, aims to estimate whether a person or an organization has correctly filed the ITRs (income tax return online) for a taxation year. Income Tax Act … Read More “Tax audits of companies require what information?” »
Is it necessary to file income tax returns? A large number of Indians are unaware of the importance of filing an ITR. In this article, we discuss the importance of filing an ITR – you will know why ITR filing is so important after reading the article. This article isn’t just about declaring, paying, and … Read More “Why File Income Tax Returns? Benefits of Filing Income Tax Returns” »
It will only take a little over a week for individuals to file their income tax returns without incurring any penalties. It is important that you file your income tax return by the end of this month if you wish to avoid paying any penalty charges. For assessment year 2018-19 (financial year 2017-18), individuals have … Read More “Tax Returns Must Be Filed by the End of the Month” »
How does an ITR work? Taxpayers like you and I declare our tax liabilities, claim tax deductions, and report gross taxable income via an Income Tax Return. Your Income Tax Department handles that as an assessee. In a financial year (1 April through 31 March), if you earn more than a certain amount, you must … Read More “What Are the Reasons for Filing an ITR?” »
As we will see, many individuals dismiss tax filing as unnecessary and burdensome. Perspectives like this are not healthy. All citizens of the country are expected to file tax returns each year as part of their moral and social obligations. The government uses it to determine the amount and means of expenditure of citizens, and … Read More “The 5 Reasons You Should File Income Tax Returns” »
It doesn’t have to be challenging to file income taxes. We want to let you know right away that income tax filing today is nothing like carrying hundreds of papers and organizing everything like students do before an exam. In India, electronic filing (e-filing) offers a host of conveniences as well as the opportunity to … Read More “Online Filing of Income Tax Returns in India 2022-23 – How To Do It” »
Below you will find a list of the different types of Income Tax Return (ITR) forms and who they are for. Is it possible to file an income tax return electronically? The Department of Income Tax has established an independent portal for electronically filing income tax returns. E-filing is the process of electronically filing income … Read More “How to Choose the Right Form to File Your Taxes Electronically” »
An individual is required to file an income tax return by July 31 of each assessment year. In the case of income that is chargeable under the heading-Income from business or profession, and whose accounts are undergoing an audit, the due date to file the return is September 30th. Modes of filing the return of … Read More “How to File Your Income Tax Return?” »
