A Complete Guide to Mutual Fund

Why Mutual Funds are more secured investment option when compared to other options. If you are looking to invest in mutual funds then keep reading different types of mutual funds to understand all things about it. A mutual fund denotes to a form of the investment process. This form of investment allows individuals to share with hundreds and thousands of other people. The individual …

Penalties for late filing of TDS returns

The following penalties are applicable when an entity has not deposited TDS by the accurate date.

1. When an individual fails to file the return by the deadline, then a late filing fee is applicable.
2. An Interest has to be paid when an individual fails to deposit the TDS amount on time.
3. There is a penalty for individuals when TDS is not filed within …

Simple ways to file income tax return in India

Each citizen in our country gets pre occupied every year when they file income tax return. Tax Filing is not necessarily a difficult process to comprehend. It primarily involves a procedure where one needs to disclose their income and taxes paid by them to the government. Primarily, filing tax return enables us to declare our annual income, as well as …

Information regarding Deductions –on Section 80C, 80CCC, 80CCD, and other noteworthy 80 Deductions

What is present in Section 80C?

As per Section 80C, Rs 1,50,000 can be claimed as a deduction from the total income. In short, an individual may cut down up to Rs 1,50,000 from the sum total of the taxable income with the help of Section 80C. In addition, this deduction is permissible either for an …

What is Form 15G?

As mentioned in sub-section (1) and (1A) of section 197A of the Income Tax Act introduced in 1961, Form 15G is a declaration, whereby an individual and not a company or firm may profess assured receipts with no deduction of tax.

What is Form 15H?

As mentioned in sub-section (1C) of the section 197A of the Income Tax Act introduced in 1961,

1. Only individuals below the …