ITR Filing: Tax exemptions and deductions available for senior citizens
The income tax filing period for the financial year has begun, and senior citizens enjoy several tax benefits under Indian tax laws. To qualify as a senior citizen for tax…
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How to File Income Tax Return as a Freelancer
India ranks as one of the fastest-growing freelance markets in the world. Freelancing in the country is becoming increasingly rewarding due to supportive tax regulations and opportunities for financial savings.…
Understanding Taxation on E-Commerce Transactions under Income Tax and GST
E-commerce transactions are subject to various tax regulations under both Income Tax and GST. To prevent tax evasion and ensure proper tax compliance, the government has introduced new sections in…
ITR-U: Understanding the ITR-U Form and How to File It
The ITR-U (Updated Income Tax Return) form was introduced by the Indian government in the Union Budget 2022, enabling taxpayers to update previously filed ITRs. This allows corrections for errors…
Understanding GST Payments and Refunds
In the GST filing process, businesses need to file GSTR-1 monthly to report sales, followed by GSTR-3B to report input tax credits (ITC) and make GST payments. When applicable, refunds…
Guide to Your Universal Account Number (UAN): Find, Activate, and Manage EPF Services
The Universal Account Number (UAN) is a key tool for employees to manage their Employee Provident Fund (EPF) accounts online. With a UAN, employees can access EPF services like checking…
Everything You Need to Know About GST Returns: Filing, Due Dates, and More!
Navigating the world of GST returns can be challenging, but staying on top of your filings is essential for maintaining compliance and avoiding penalties. Whether you're a small business or…
Mutual Funds 101: A Beginner’s Comprehensive Guide to Smart Investing
Investing in mutual funds can appear intimidating for those new to finance, but it's actually a straightforward and highly effective method to grow your wealth over time. Whether you're planning…
Understanding Sections 194-IB & 194-IC Under the Income Tax Act
Hello Folks, Today, we are going to discuss about, Sections 194-IB & 194-IC Under the Income Tax Act The Income Tax Act includes provisions for tax deduction at source (TDS)…
Short Term Capital Gain on Shares (Section 111A of Income Tax Act) – STCG Tax Rate & Calculation
Hello Folks, Today, we are going to discuss about the, Short Term Capital Gain on Shares (Section 111A of Income Tax Act) - STCG Tax Rate & Calculation When you…