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Top Income Tax Deductions for year by 2023

Top Income Tax TOP INCOME TAX DEDUCTIONS FOR YEAR BY 2023  Section 80C Deduction Income tax deduction of upto Rs.1.5 lakhs can be claimed on amount paid or deposited in PF, PPF, LIC premium paid, National Savings Certificate, ULIP, principal part of repayment of housing loan, tuition fees paid for children, term deposit in bank, […]

Income Tax Filing

(ITR eFiling) Income Tax Filing ITR Form Type Applicability ITR-1 ITR-1 form can be used by Individuals who have less than Rs.50 Lakhs of annual income earned by way of salary or pension and have one house property only. ITR-2 ITR-2 form must be filed by individuals who are NRIs, Directors of Companies, shareholders of private […]

Checklist for Income Tax Notice

                 Checklist for Income Tax Notice step:1 After the intimation notice under Section 143 (1) is received of the Income Tax Act,1961 the taxpayer has to make a reply within 30 days from the date when the notice is served. step:2 If the taxpayer fails to respond within the time […]

Documents required to reply to an Income Tax Notice

                   Documents required to reply to an Income Tax Notice What documents are required to reply to an Income Tax Notice? The Documents are required to vary with the type of Income Tax notice that is served to the taxpayer. The basic documents needed to reply to […]

Service of Income Tax Notice

                             Service of Income Tax Notice Introduction The Income Tax Act,1961 has laid down the law for the service of a notice, summons, order, or any other communication by delivering or transmitting a copy to the person in any method that is […]

Types of Income Tax Notice

                           Types of Income Tax Notice Type of Notice Description Notice u/s 143(1) – Intimation This is one of the most commonly received income tax notices. The income tax department sends this notice seeking a response to the errors/ incorrect claims/ inconsistencies in […]