Depreciation Under Income Tax Act: A Comprehensive Guide for Businesses
Introduction
Depreciation is a tax-deductible expense that businesses can claim under the Income Tax Act. It refers to the decrease in the value of an...
How to Check IT Refund Status: A Step-by-Step Guide
Introduction
As tax season comes around, it's important to ensure that you receive any tax refunds that are due to you. If you have filed...
What are the objectives of Capital Budgeting?
What is Capital budgeting?
Capital budgeting is a financial management process that involves planning and evaluating long-term investment opportunities. It is the process of making...
Understanding the 5 Heads of Income in India: A Comprehensive Guide
Introduction Income is the backbone of every individual’s life. It is the primary source of survival for everyone. In India, income is categorized into...
Understanding Section 44AB of the Income Tax Act
The Income Tax Act, 1961 is the primary legislation that governs the taxation of income in India. It provides a framework for the assessment,...
Understanding the 44AB Limit: Everything You Need to Know
Introduction The Indian Income Tax Act of 1961 requires taxpayers to maintain proper accounting records and submit tax returns. Additionally, certain taxpayers are required...
Understanding Section 44AA of the Income Tax Act
The Income Tax Act, 1961, is a crucial legislation that governs taxation in India. Section 44AA of the Income Tax Act is one of...
Understanding Section 234C of the Income Tax Act
Paying taxes is an essential aspect of being a responsible citizen of India. The Income Tax Act, 1961, is a vital legislation that lays...
Understanding Section 234B of Income Tax Act – A Guide for Taxpayers
Paying taxes is a crucial aspect of every individual’s financial responsibility. Filing taxes on time not only avoids penalties but also helps in avoiding...
Maximizing Tax Savings: Essential Tax-Saving Investments and Strategies for Women
Introduction
Income tax is a crucial part of any country's revenue system, and it is important for individuals to understand the different tax slabs that...