In India, an indirect tax known as the Goods and Services Tax (GST) is levied on the provision of goods and services. VAT, excise duty, service tax, and other indirect taxes have all been replaced by the GST. The Indian taxation system has undergone several modifications with the introduction of GST. Businesses must register for […]
Category: Taxation
All related to different taxations like IncomeTax, GST, International taxations etc.
What is Form 16: Everything you need to know about it
The most crucial document that every paid person looks forward to is Form 16. The employer typically issues this document up until May 31 for the preceding fiscal year. Being an important document for filing returns for any salaried person Form 16 is nothing more than a TDS Certificate that the company issues, summarizing the […]
How to Avoid Paying Capital Gains Tax When You Sell Your Stock?
Short Term Capital Gains Tax Vs Long Term Capital Gains To have separate tax treatment for individuals who invest to protect their savings and those who make the investment as a way to generate income, the capital gains on selling shares have been divided into two groups for tax purposes. Long-term capital gains are any […]
Overview: What is Personal Income Tax Calculator?
A personal income tax calculator is a tool used to estimate an individual’s income tax liability based on their taxable income, tax slab rate, and any applicable deductions. To use a personal income tax calculator, an individual needs to input their taxable income, which is calculated by subtracting any allowable deductions from their total income. […]
TAX PLANNING IN INDIA
What is Tax Planning? Tax planning is the review of one’s financial status from the perspective of tax efficiency in order to arrange one’s finances in the most effective way possible. With the use of tax planning, a taxpayer may reduce their overall tax bill for a given fiscal year by taking full advantage of […]
INCOME TAX SLAB FOR FY 2022-23
What is income tax slab? Individual taxpayers will be required to pay income tax according to the applicable slab structure. A person may be assigned to a different tax bracket depending on their income. Consequently, people with greater incomes will be required to pay more tax. The introduction of the slab system aimed to keep […]
How to Pay Your Advance Tax: A Step-by-Step Guide
Those with sources of income besides their salaries are obligated to pay advance tax. Advance tax can be paid by those who make money via renting out their property, selling their shares, making fixed deposits, winning the lottery, etc. The “Pay as you Earn” plan, often known as advance tax, can be paid through specific […]
Didn’t get your Income Tax Refund despite filing the ITR on time? here’s why
Around 45 days have elapsed since the filing deadline for income tax returns, and the income tax administration has already started disbursing qualified taxpayers’ refunds. The income tax (I-T) department reports that as of September 8, 2022, refunds of Rs. 1.19 lakh crore had been given out, which is 65.29 per cent higher than had […]
When Is ITR Filing Mandatory?
The due date of filing personal ITR is July 31, 2022, and maybe you aren’t concerned as you think you’re not eligible to pay tax. Well, if you’re living in this dilemma then read below: Filing of Income Tax return is mandatory in the following cases: 1) If an individual has assets outside India: An […]
What You Need to Know About Tax When Starting a Business
When starting a business, there are a lot of things to take care of. One of the most important is the business tax. Taxes in India have been simplified significantly in recent years, but there are still a lot of them that you need to be aware of. In this blog, we will look at […]