A revised income tax return (ITR) is a document that is filed to correct errors or omissions in an original ITR. It can be filed by any taxpayer who has filed an ITR for a given assessment year and discovers that there is an error in the return. When Should You File a Revised ITR? There are a few reasons why you might need to file a revised ITR. These include: What … [Read more...] about What is revised ITR? When should you file one? What is the charge?
income tax
Invalid PAN Card – What Are The Things You Can’t Do With An Inoperative PAN Card?
An invalid PAN card is a PAN card that is not registered with the Income Tax Department of India. This means that the card is not valid for any official or financial transactions that require a PAN number. Some of the things that you cannot do with an invalid PAN card include: If you have an invalid PAN card, you should contact the Income Tax Department to get it … [Read more...] about Invalid PAN Card – What Are The Things You Can’t Do With An Inoperative PAN Card?
What Documents Are Needed To Open A Savings Bank Account? What If I Don’t Have A PAN Card?
Here are the documents you need to open a savings bank account in India: Once you have submitted all of the required documents, the bank will open your savings bank account and issue you a passbook. You can then start depositing and withdrawing money from your account. … [Read more...] about What Documents Are Needed To Open A Savings Bank Account? What If I Don’t Have A PAN Card?
When To Start With Income Tax Filing For The Current Financial Year?
Filing your income tax returns (IT) is a crucial financial responsibility that every taxpayer must undertake. The IT filing process involves submitting a statement of all your earnings and the taxes paid on them during a given financial year. This statement helps the government to determine the amount of tax that you owe or the refund that you may be entitled to. The IT … [Read more...] about When To Start With Income Tax Filing For The Current Financial Year?
How Much Tax Can You Save On House Rent Allowance? HRA Exemption Calculation For Income Tax Filing
As an employee, one of the common expenses that you incur is your rent. If you are living in a rented house, your employer may offer you a House Rent Allowance (HRA) as a part of your salary package. This allowance can be claimed as a deduction under the Income Tax Act, 1961, which can help you save on your taxes. The HRA exemption can be claimed only if the employee is … [Read more...] about How Much Tax Can You Save On House Rent Allowance? HRA Exemption Calculation For Income Tax Filing