# planning
8 posts in `planning` tag
Understanding Section 80G Income Tax Savings Guide
However, specific limits and conditions must be met to avail of these deductions. In this comprehensive guide, we will delve into the intricacies of Section 80G and explore how it can be a valuable tool for tax savings.
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By Krishna
Income Tax Introduces Form 71 TDS Credit Previously Reported Income ITR
If you have reported income in your tax return under Section 139 for a specific assessment year, and TDS has been deducted from that income in a subsequent financial year, you can now apply to amend your assessment order.
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By Krishna
Patience Pays: Understanding Income Tax Refund Processing Time
The response hinges on diverse elements, encompassing tax authorities' processing duration, data precision, and the selected refund method.
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By Krishna
Income Tax Return Govt plans increase section 80c deduction limit details
Section 80C of the Income Tax Act, of 1961, is widely utilized for claiming tax deductions. It allows individuals to avail deductions for specific investments and expenses, such as pension schemes, PPF, and life insurance, among others.
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By Krishna
Delhi ITAT Ruling: Car Parking Rental Income Deductible Under Section 80IA
During scrutiny, the Assessing Officer denied the deduction u/s 80-IAB for the income earned from car parking rentals, stating that it lacked a direct connection with the taxpayer's business operations.
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By Krishna
Computation of Income Tax
Deductions are provisions that reduce your taxable income, thereby reducing your overall tax liability. Common deductions include investments in instruments like the Public Provident Fund (PPF), Employee Provident Fund (EPF), National Pension Scheme (NPS), and payment of Life Insurance Premiums.
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By Krishna
6 Robust Reasons to not to miss NPS in your tax planning
Income tax planning is the most important step when fulfilling your financial goals and knowing about the NPS can be greatly important for you.
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By Krishna
Top 5 Mistakes You Must stop making In Tax-Planning
Tax planning is an important part of financial growth and savings too. But generally, people do not focus on the tax-planning with proper knowledge.
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By Krishna