An HUF is a legal entity recognized under the Income Tax Act, 1961, and it consists of members who are part of the same Hindu... Read More
Rajbir Chawla
Getting a loan has become considerably simpler thanks to online lenders that offer a variety of loan products. There is a wide range of non-collateral... Read More
Managing finances can be a daunting task, especially when it comes to setting up and maintaining different bank accounts. While some individuals prefer one account... Read More
Suffering a personal injury can be a distressing experience, but knowing the right steps to take immediately after the incident can significantly impact your well-being... Read More
Filing an Income Tax Return (ITR) in India can be done online through the Income Tax Department’s e-filing portal. The ITR1 form is applicable to... Read More
Filing tax returns without Form 16 can be challenging. Without it, calculating accurate income becomes difficult, proving TDS deductions becomes problematic, and claiming deductions accurately becomes a challenge. However, you can take several remedies. Start by communicating with your employer and requesting Form 16. If that fails, escalate the matter internally and send written reminders. If all else fails, approach tax authorities for assistance. In the absence of Form 16, use alternative documents like salary slips and bank statements to calculate income. Maintain proper documentation and consult a tax professional for guidance. Remedies include urging your employer, escalating internally, communicating in writing, seeking assistance from tax authorities, using alternative documents, and maintaining proper records.... Read More
Not replying to queries from the Income Tax Department in India can have various consequences, as the department has the authority to enforce compliance with... Read More
After filing an Income Tax return in India, there are several common reasons why an assessee (taxpayer) may receive a query letter from an Income... Read More
All about Choosing between New Tax Regime and Old Tax Regime- Which regime is good for you
7 min read
The New Regime and Old Regime of income tax in India represent two different tax structures that individual taxpayers can choose from. Let’s delve into... Read More
The government announced the new ITR form for the fiscal year on March 31, 2021. The ‘ITR’ is a form used by taxpayers to record... Read More