Maldives and Lakshadweep Controversy
Surely when the discussion revolves around tourist destinations, the Maldives often takes the lead. However, perhaps not many people want […]
What is GSTIN
GSTIN stands for Goods and Services Tax Identification Number. It is a unique 15-digit alphanumeric identifier assigned to every individual
What is UAN Number?
The UAN (Universal Account Number) is a unique 12-digit number assigned to every employee who contributes to the Employee Provident
What is Financial Year and Assessment Year
The financial year (FY) and assessment year (AY) are fundamental terms in the realm of taxation and financial planning, playing a pivotal role in the determination and calculation of income tax liabilities for individuals and businesses. Understanding these concepts is crucial for complying with tax regulations and efficiently managing financial affairs.
How to Calculate HRA i.e. House Rent Allowance
House Rent Allowance (HRA) is a crucial component of an employee’s salary structure, designed to provide financial relief for accommodation expenses. This allowance is particularly significant for those residing in rented accommodations, as it offers a tax-saving opportunity under the Income Tax Act in many countries, including India.
How to save maximum tax if gross salary is Rs 22 Lakh per annum
Let suppose these are the allowances and salary mentioned in your annually salary slip. By Old Regime Your total annual
Type of ITR Forms
Explore the various types of ITR (Income Tax Return) forms in India, each designed to cater to specific taxpayer categories and sources of income. Learn which ITR form is suitable for your financial situation and understand the nuances of tax filing under different ITR categories
What happened if you claimed more deductions in your ITR to get more refund
It’s essential to be honest and accurate when filing your income tax return. Take advantage of legitimate deductions and credits for which you qualify, but do not overstate them or claim deductions that you are not entitled to. If you are unsure about which deductions you can claim or need assistance with your tax return, consider consulting a tax professional or using tax preparation software to help ensure that you comply with tax laws.
How to check PAN and Aadhaar are linked or not
Learn the simple steps to verify whether your PAN (Permanent Account Number) and Aadhaar card are linked or not. Ensuring this crucial link is in place is essential for various financial and official transactions. Find out how to confirm the status effortlessly.