How to pay Income Tax that is due

Paying Due Income Tax This is a step by step guide to pay your due Income Tax. Step 1 :- Select Challan 280 in the tax information network of the Income Tax Department.   Step 2 :- Fill in the details in the new window carefully. Choose “(100) ADVANCE TAX” if the tax is being paid [...]

By | 2018-08-08T09:07:28+00:00 June 22nd, 2016|Categories: Tax payments and Refund|0 Comments

How to claim exemptions on Capital Gains

Exemptions on Capital Gains   Any form of income attracts taxes. People own Capital assets for a long term so than they can gain profit on the appreciated value of the capital. But the income earned by selling these assets is taxable according to the Income Tax Act, 1961. However there are some ways to counter [...]

By | 2018-08-08T09:05:46+00:00 June 22nd, 2016|Categories: Tax Savings|0 Comments

Saving Tax through Education Loan

Save Tax   An education loan will not only provide you fund for your higher studies but also help you to save tax. When you take a loan for higher studies, under Section 80E of the Income Tax Act, 1961 deduction is allowed for Interest that you pay towards this loan. Several forms of higher studies are [...]

By | 2018-08-08T09:03:55+00:00 June 20th, 2016|Categories: Tax Savings|Tags: , |0 Comments

ITR E-Filing Guide

ITR E-Filing   What is e-Filing? E-filing simply means to file your income tax return electronically (online). Earlier most people used to physically E-file ITR in India by going to income tax department. But as the digital era came, majority of people started to file returns online. It is far easier and less tiring. It does not [...]

By | 2018-08-08T12:34:24+00:00 June 20th, 2016|Categories: Income Tax Guide|Tags: , |1 Comment

Capital Gains

A categorical guide to impact on tax, by income from the capital gains Section - I – Basic Concepts: Capital Gain: It is any gain earned from the sale of a capital asset which is known as a “Capital Gain.” The profit is chargeable to the tax in the year where there are capital gains. It is not [...]

By | 2018-08-08T12:33:26+00:00 June 17th, 2016|Categories: Capital Gains|Tags: , |0 Comments

All you need to know about ITR 2 Form

ITR Form 2   The Income Tax Department has introduced a form called ITR 2 Form. This is mainly for Individuals and Hindu Undivided Families who does not possess any income from business or any profession rather than income received from more than a single property. It is very much comprehensive form than ITR 2A. And [...]

By | 2018-08-08T12:32:18+00:00 June 16th, 2016|Categories: Income tax basics|Tags: , |0 Comments

ITR 2A Form

Know about ITR 2A Form   An Introduction ITR 2A Form has been introduced from Assessment Year 2015-16 by the Income Tax Department in order to avoid the problems faced by the taxpayers while filing their tax returns with ITR-1 and ITR-2.   When to File ITR 2A Form ITR-2A can be filed by an individual/HUF (Hindu [...]

By | 2018-08-08T12:30:06+00:00 June 16th, 2016|Categories: Income tax basics|Tags: , , |0 Comments

Freelancer Guide

A guide to help Freelancers in Tax Who is a Freelancer? A Freelancer is a person who is self-employed and is not necessarily committed to a particular employer for long-term. What is Freelancing Income? Freelancing Income is the income which is earned from any profession that includes work, which requires a person to use a skill [...]

By | 2018-08-08T12:28:28+00:00 June 16th, 2016|Categories: Income from Business and Profession|Tags: , , |0 Comments

House Property and Taxes

Know About House Property and Taxes   Purchasing a house is a time-consuming and hectic task. In this guide, we will help you understand all that you want to know while buying a house in a very easy and effective manner. There are three sections which will help you understand how to claim your tax deduction [...]

ITR-3 Form

Structure of ITR-3 Form   ITR-3 Form The ITR-3 Form especially applies to those Individuals and Hindu Undivided Families who are enlisted as partners in a firm. According to Rule 12 of the Income Tax Rules, 1962, the ITR-3 does not apply to the individuals who are proprietors of a firm. Mainly, it is for the [...]

By | 2018-08-08T11:10:02+00:00 June 15th, 2016|Categories: Income tax basics|Tags: , , |0 Comments