Income Tax Return is a document an individual is required to file with the Income Tax Department on a yearly basis. However, it is not mandatory for everyone to file the Return. If your income in the previous year is above the basic exemption limit of INR 2,50,000 (Rupees Two Lakh Fifty Thousand only), then […]
Income Tax is a tax paid to the government for the development of our nation in respect of Infrastructure Developments; or any other medical facilities; necessities from the income earned by us. It is a kind of expense we pay to live in the civilized society. There is a prescribed limit of income on which Government […]
Limit for payment of expenses by cash (Both capital and revenue expenditure) reduced from Rs. 20,000 to Rs. 10,000 per day in aggregate per person. No Person shall receive an amount of Rs. 2,00,000/- or more, by cash (Sec 269ST). For below Rs. 2 crores turnover cases – For Non cash sales (through Digital, Online, […]
Have you forgotten to verify your Income Tax return? Filling of income tax returns on time is not only a financial obligation but also a way to ensure optimum financial health. Income Tax Return (ITR) is something which every person who is earning should file every year. Those who file Income Tax Return must be aware […]