Understanding LTA Exemption: Benefits and Challenges
LTA Exemption: Understanding Leave Travel Allowance
Leave Travel Allowance (LTA) is a provision in the Income Tax Act that allows employees to claim exemption for...
Understanding ITR 5: Eligibility, Forms, Filing Procedure and Common Mistakes to Avoid
Introduction to ITR 5
ITR 5 is a form used to file an income tax return by firms, LLPs (Limited Liability Partnerships), Association of Persons...
Understanding Section 54EC of Income Tax Act
Introduction
The Indian Income Tax Act provides certain tax benefits to taxpayers who sell their long-term capital assets, such as land, buildings, or stocks. One...
Section 36 Deductions Income Tax Act: Understanding the Basics
What is Section 36 of the Income Tax Act?
Section 36 of the Income Tax Act, 1961 provides a list of deductions that can be...
80GGC Deduction Limit: Understanding the Benefits of Donations for Charitable Purposes
Section 80GGC of the Income Tax Act, 1961 is a tax deduction provision that allows Indian taxpayers to claim deductions for donations made to...
Understanding Surcharge on Income Tax: Definition, Calculation, and Implications
Introduction
Taxation is an essential part of the government's revenue generation process, and it is crucial for the smooth functioning of a country's economy. In...
Understanding Tax Deduction and Collection Account Number (TAN)
Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number assigned by the Income Tax Department of India to entities who are...
Understanding Standard Deduction in Income Tax: A Comprehensive Guide
Understanding Standard Deduction in Income Tax
Income tax is a crucial aspect of a country's financial system, and every working individual needs to pay their...
Form 67: A Guide to Claiming Relief Under Section 89 of the Income Tax...
Form 67: All You Need to Know
Form 67 is a significant document required for claiming tax exemption by a salaried employee. In this blog,...
Understanding Form 16B: A Complete Guide to TDS Certificate for Property Buyers and Sellers
Form 16B: A Comprehensive Guide for Taxpayers
Form 16B is an important document issued by the buyer of immovable property to the seller, as per...