Before filing your income tax return in India, the most important factor to assess is your residential status under Indian tax law. Your tax liability on..
Tag: Tax Help India
How to Avoid GST Late Filing Penalties in India
Late filing of GST returns not only attracts penalties and interest but also leads to blocked e-way bills, delayed refunds, and even suspension of GST registration. As..
How to Declare Foreign Assets in Indian Tax Returns
If you’re an Indian resident who owns foreign bank accounts, property, stocks, or business interests, you are required to disclose these foreign assets in your income..
How to Respond to an Income Tax Notice in India
Receiving a notice from the Income Tax Department can be stressful, but most notices are routine and manageable if handled correctly. Whether it’s for missing documents,..
How to Claim Refund for TDS Deducted by Banks
Banks in India deduct Tax Deducted at Source (TDS) on interest income earned from fixed deposits, recurring deposits, or savings interest (in some cases). If your..
How to Calculate and Pay Advance Tax in India
If your total tax liability exceeds ₹10,000 in a financial year, you are legally required to pay advance tax. Instead of waiting for year-end, the Income Tax..
Who is Considered a Resident for Indian Tax Purposes?
In India, your residential status determines whether your global income or only Indian income is taxable. It is based not on citizenship or visa, but on..
Who Should Get Their Books Audited Under the Income Tax Act?
Under the Income Tax Act, 1961, certain taxpayers must get their accounts audited by a Chartered Accountant and submit a Tax Audit Report. This audit requirement,..
Who is Eligible for the Presumptive Taxation Scheme?
The Presumptive Taxation Scheme (PTS) under the Income Tax Act, 1961 is a major relief for small businesses, professionals, and freelancers who want to avoid complex..
Who Can Claim Tax Benefits Under Section 80C?
Section 80C of the Income Tax Act, 1961 is the most commonly used tax-saving section by individual taxpayers in India. It allows deductions up to ₹1.5..