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Income Tax

Blogs under category: Income Tax
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Taxable, Non-taxable, and Partially Taxable Components of Salary in India

Webtel

Understanding the various components of salary and their tax implications is crucial. From basic salary to ad hoc allowances, each element plays a pivotal role in shaping an employee's financial lands ........ View More

  • 13/03/2024
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  • Visitor's Count: 35

What is more beneficial, Old Income Tax Regime or New Income Tax Regime?

Webtel

Income Tax computation is subject to complexities and the choice of old vs new tax regime is a common question raised by various taxpayers. Traditionally, the old income tax regime was followed in Ind ........ View More

  • 12/03/2024
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  • Visitor's Count: 24

A Comprehensive Guide to Income Tax Exemptions under Section 10

Webtel

Section 10 of the Income Tax Act provides various exemptions to ease the burden for taxpayers. Section 10 encompasses a range of exemptions designed to reduce tax liabilities, covering diverse sour ........ View More

  • 28/02/2024
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  • Visitor's Count: 61

ITR-U: A Complete Guide on Filing Updated ITR

Webtel

Income tax return for each financial year is to be filed by the prescribed due dates. Belated return can be filed by Dec 31 of the relevant assessment year i.e. the next financial year or completion o ........ View More

  • 29/02/2024
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  • Visitor's Count: 3968

Difference between Form 16 and 16A

Webtel

Form 16 and Form 16A are two essential elements of the TDS filing process that enable taxpayers to determine the tax amount payable. However, taxpayers often confuse the two Forms due to the identical ........ View More

  • 10/10/2023
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  • Visitor's Count: 394

Form 10B: Applicability, Due Date, and Filing Process

Webtel

What is Form 10B? Form 10B is an audit report provided by a CA under Section 12A of the Income Tax Act, 1961 to charitable funds, universities, educational institutions, hospitals, or other medical ........ View More

  • 28/09/2023
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  • Visitor's Count: 8347

Income Tax Audit u/s 44AB: Applicability, Due Date, Form 3CA, 3CB, 3CD & 3CE

Webtel

Has the Tax Audit due date got you worried? In this blog, we have covered basic things that you need to know about Tax Audit under section 44AB, the applicability, requirements, relevant forms 3CA/ 3C ........ View More

  • 18/09/2023
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  • Visitor's Count: 8296

Belated ITR under Section 139(4): Applicability, Due Date, and Penalty

Webtel

Missed the due date for filing ITR? You still have the option of filing the Income Tax Return under Section 139(4). In this blog, we will discuss the applicability and the consequences of filing the B ........ View More

  • 29/02/2024
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  • Visitor's Count: 13467

ITR Filing Due Date 2023: July 31st is the Last Date to file the Income Tax Return for AY 2023-24 (F ........

Webtel

What is the Due Date to File ITR? 31st July is the last date for filing Income Tax Returns for FY 2022-23 (AY 2023-24) and the inability to file ITR on time can lead to heavy penalties and fines. H ........ View More

  • 04/03/2024
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  • Visitor's Count: 3702

ALL ABOUT FACELESS ASSESSMENT SCHEME 2020

Webtel

What is the Faceless Assessment Scheme 2020? The Faceless Assessment Scheme, 2020 has been launched by the Income-Tax Department to eliminate the interface between the Assessing Officer and the Ass ........ View More

  • 28/12/2022
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  • Visitor's Count: 11506

 
     
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