Nine O Six

Yes, you may be eligible to claim the exemption under Section 54 if you used the proceeds from the sale of a residential property to buy a house for both yourself and your wife. What is material is...

Revised Income Tax Return under section 139(5)A Revised Income Tax Return is an important provision that allows individuals freedom to correct errors or provide additional information (which was m...

Income tax means giving the government a portion of your earnings. It is a direct tax that the income tax authorities collect from people, businesses, and other entities that fall under their purvi...

"Income from Salary" is the money you earn from your employment. It includes: 1. Basic Salary: The fixed amount you receive.2. House Rent Allowance (HRA): An allowance to assist with the payment o...

To save on taxes, file your ITR. This allows you to claim deductions for things like investments in ELSS, PPF, NSC and payments such as housing loan repayments, insurance premiums, and donations.

​To choose the right mutual fund for SIP investments, consider your financial goals, risk tolerance, and the fund's performance. Look at factors like expense ratio, historical performance, and fund...

​"Income from house property" refers to the income earned by an individual from a property that he/she owns and is meant for residential or commercial purposes. This income can be earned by way of ...

Income from agricultural activities is specifically exempt from Income Tax.However, even though agricultural income is not taxed directly, the rate of tax increases on non-agricultural income due t...

Form No. 16A is a certificate of deduction of tax at source under section 203 of the Income-tax Act, 1961. It is issued by the deductor (i.e., the person who deducts tax at source) to the deductee ...

The legal framework of the presumptive taxation scheme is defined by Sections 44AE, 44AD, and 44ADA of the Income Tax Act.These sections offer a simplified approach to income calculation and exempt...