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The latest industry news, interviews, and resources
HRA in Salary: A Comprehensive Overview
A portion of the HRA received is exempt from taxation, while the remaining portion is taxable income under the Income Tax Act of 1961....
Rashmita Choudhary
Mar 258 min read
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Penalty for Belated Return Under Section 234F: Last Date, Deadlines, and Key Considerations
Section 234F of the Income Tax Act, 1961, was introduced by the Finance Act, 2017, to promote the timely filing of income tax returns...
Nimisha Panda
Mar 258 min read
16
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Landlord’s PAN Mandatory for HRA Exemption: Understanding the Rule
When submitting a claim for House Rent Allowance as a tax benefit, the Indian government has mandated that PAN card information be...
Indrajeet Sharma
Mar 256 min read
24
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Section 80CCD(2) of the Income Tax
Accurate and timely income tax payments are essential to the nation's economic development. You must make your tax payments on time as an...
Asharam Swain
Mar 246 min read
32
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Form 16 Eligibility Criteria: Who is Eligible & How to Use It for Tax Filing
Form 16 is a crucial document for salaried individuals in India, serving as a certificate issued by employers that summarizes the tax...
Nimisha Panda
Mar 2413 min read
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How is HRA calculated for tax exemption?
House Rent Allowance (HRA) is a crucial part of the salary structure for many employees, designed to ease the financial burden of rental...
Nimisha Panda
Mar 2413 min read
19
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Filing ITR-U for Missed Tax Returns: When and How to Use the Updated Return Option
Filing income tax returns accurately and on time is crucial for compliance with tax regulations. However, taxpayers often make errors or...
Nimisha Panda
Mar 248 min read
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Bank Account Opening Form: A Complete Guide for Smooth Account Setup
Opening a bank account is a crucial step in managing your finances, and one of the first tasks in this process is completing the bank...
Nimisha Panda
Mar 2411 min read
7
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What is TIN Number in India?
The Commercial Tax Department assigns a Taxpayer Identification Number, or TIN, to people and companies registered under VAT to identify...
Indrajeet Sharma
Mar 247 min read
11
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Understanding Advance Tax and Section 87A: Can You Reduce Your Tax Liability?
Tax liability can be a major concern for individuals and businesses, but strategic tax planning can significantly reduce the burden. Two...
Nimisha Panda
Mar 2013 min read
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