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In the Income Tax Act, 1961 sources of income are classified and talk about the five forms of income. Other sources of income are distinct from the other four sources of income such as salary, property, business or profession, and capital gains. This article deals with income from other sources,…

Mutual funds have become popular investment solutions for people looking to build long-term wealth. Investors must understand the Taxation of Mutual Fund to optimise returns and conform with the Income Tax Act, of 1961. This article deals with Taxation on Mutual Funds in India, with a focus on income tax rules. …

The Indian Income Tax Act's standard deduction is an important provision that enables taxpayers to lower their taxable income by a predetermined amount. Both salaried people and seniors receive assistance, which lowers their tax burden. This study article is an examination of the standard deduction for salaried individuals and pensioners,…

The income tax system in India requires individuals to calculate their tax liabilities and pay amounts through a process called self-assessment tax. This article deals with self-assessment tax's core concepts and provisions and its importance in ensuring tax compliance. Table of Contents Definition of Self-Assessment Tax Purpose of Self-Assessment Tax…

Life insurance is an important financial tool that protects individuals and their families against unexpected calamities. Life insurance plans in India provide different tax benefits to policyholders in addition to their basic function of risk coverage. These tax breaks are intended to relieve financial burdens on individuals while also emphasizing…

Form 16 is an important document issued by employers to their employees. Form 16 serves as proof of tax deducted at source (TDS) on salary income and contains all the necessary information required to file income tax returns. The article aims to provide a detailed understanding of what Form 16…

If you wish to establish a business in Noida, you must first obtain a Shop and Establishment Registration. This is a critical regulation because it ensures that firms observe local laws and treat their employees fairly. Noida is a rapidly rising business metropolis that cares deeply about both employers and…

Managing income tax returns is an essential responsibility for every taxpayer. ITR forms are an integral part of this process as they facilitate the accurate reporting and assessment of income. This article deals with ITR forms and their significance. It aims to enhance readers' understanding of types of income tax…

Secretarial audits are an important part of corporate governance because they make sure that a company is following the rules and laws that apply to it. The reports are like a detective's lens; they find problems with compliance or governance that might not have been seen otherwise. Significant documents and…

We have to meet with the area of professional tax in India. It is a mandatory contribution imposed by state governments on individuals earning an income through employment or self-employment. The article deals with the varied tax rates, exemption criteria, and applicability guidelines that navigate the professional tax landscape in…