Taxpayers Articles

How to Maximize Deductions: A Comprehensive Look at Section 80C and Beyond

CA Prateek Agarwal 18 July 2024 at 08:39

This article provides a comprehensive overview of Section 80C and explores additional avenues for maximizing deductions, helping you optimize your tax strategy...

Unlocking Convenience: The 'AIS for Taxpayer' App

CA Pallav Singhania 09 April 2024 at 08:41

The Indian Government has recently unveiled a mobile app for taxpayers - the 'AIS for Taxpayer'. Developed by the Income Tax Department, this innovative application serves as a comprehensive tool empowering individuals with seamless access to their tax-related information and facilitating informed financial decision-making.

Understanding Finance Amendment Bill 2023 for Taxpayer

CA. Heet Shah 25 March 2023 at 13:09

On March 24th, 2023, the Finance Amendment Bill was passed by the government. This bill is aimed at making changes to the existing financial laws in order to bring in more transparency and accountability, and to facilitate ease of doing business. The bill has been lauded by experts and industry leaders for its many benefits, which we will discuss in this article.

What is Filing of 1042 Form?

Taxblock 30 September 2022 at 08:59

Forms 1042, 1042-S, and 1042-T are U.S I.R.S taxation forms dealing with dealings with foreign persons, including non-resident aliens, foreign entities, etc.

Tax Saving Investment option available to Salaried Individuals

Rishabh Khandelwal 10 November 2021 at 09:31

The most important section in Income Tax Act, 1961 that lays down various products/options available to taxpayers is Section 80C. The total admissible deduction under Section 80C is Rs.150,000.

Everything you need to know about Sukanya Samriddhi Scheme

Sakshi Jain 11 May 2021 at 10:04

This scheme encourages parents to create a fund for their female child for potential education and marriage expenses. Accounts under this scheme can be opened by visiting the post office or branches of authorized banks.

Compilation of all the ROC (LLP) Filing Due dates for FY 2020-21 (AY 2021-22)

Ishita Ramani 12 April 2021 at 17:14

It is important to keep a track of the Important Statutory due dates for LLP Annual Filing falling in the year so that an LLP can be well prepared for all the compliances to be met in a year. Discussing the same for FY 2020-21.

Due date Extension put Taxpayers under Duckworth Lewis Situation

CA Umesh Sharma 05 January 2021 at 10:06

In this article, we compare the situation of the taxpayers and professionals to the "Duckworth Lewis" Rule in which due to rain or other interruptions, more runs have to be made in fewer balls. This is with regard to the due date extension made by the government.

Avoid Late Fees by filling tax Returns before 31st December 2020

CA Umesh Sharma 08 December 2020 at 09:51

In this article, Krishna and Arjuna discuss some of the compliances to be fulfilled by taxpayers by filing Tax Returns before 31st December 2020, in order to avoid late fees.