Income tax
Understanding income tax is crucial for managing your finances. Discover how income tax works, learn about tax brackets, deductions, and credits. Stay informed about changes in tax laws and filing requirements. Navigate the world of taxation with confidence and ensure you make the most of your financial opportunities.
Created on: 02/13/2024
Direct Tax Collections Surge: 80% of Revised Estimates Achieved by February 10th - APNOKACA Report
To reach the target set in the revised estimates for the year, the government needs to collect Rs 3.85 trillion in approximately 50 days.
Created on: 02/13/2024
Crucial Update: Revised TDS Rates for Inactive PANs - APNOKACA Advisory
The Income Tax Department has sent an important notice to Tax Deductors and Collectors, alerting them about the impact of having an 'Inoperative' PAN status on TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) rates.
Created on: 02/10/2024
Understanding Tax Limits: Depositing Cash in Savings Account without Attracting Taxes
To meet their banking needs, many people, including those with regular salaries, often open savings accounts to keep their money safe and earn interest.
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Created on: 02/10/2024
April 1, 2024 Onwards: Crucial Insights on Updated Income Tax Return (ITR) Forms - APNOKACA Update
To streamline tax processes and improve transparency, the Income Tax Department has announced important updates to income tax return (ITR) forms.
Created on: 02/07/2024
Government Outreach: Personalized Emails to 4.4 Million Taxpayers on Significant Discrepancies - APNOKACA Alert
During last year's tax filing period, the government sent approximately 4.4 million "targeted" emails to individuals with significant discrepancies between their reported income and account transactions.
Created on: 02/06/2024
Demystifying TDS Return Forms: Understanding 24Q, 26Q, 27Q, 27EQ, and 27D - APNOKACA Insights
Tax Deducted at Source (TDS) helps prevent tax evasion by deducting taxes from an individual's income before they receive it. The collector deducts tax at a predetermined rate.
Created on: 02/03/2024
Income Tax Department Big Move: Extended Deadline for Filing Returns - APNOKACA Update
In a significant development, the Income Tax Department has announced a crucial update by extending the deadline for filing Income Tax Returns.
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Created on: 01/31/2024
Broadening the Reach of Annual Information Statement (AIS) for Individual Taxpayers in Budget 2024
Expanding AIS data in Budget 2024 could enhance its usefulness for individuals and tax authorities alike.
Created on: 01/30/2024
CBDT Notification ITR-6 Form for AY 2024-25 Unveiled by APNOKACA
The Central Board of Direct Taxes released Notification No. 16/2024 on January 24, 2024, regarding Income Tax Return (ITR) Form ITR-6 for the Assessment Year 2024-25.
Created on: 01/30/2024
The Significance of Investment Proof for Income Tax Consequences and Solutions APNOKACA
If you fail to submit your investment proof on time, your employer might deduct TDS (Tax Deducted at Source) from your salary at a higher rate.
Created on: 01/24/2024
Understanding Section 80G Guide Income Tax Savings APNOKACA
Section 80G of the Income Tax Act, 1961, provides an avenue for taxpayers to reduce their tax liability through charitable donations.
Created on: 01/23/2024
Income Tax Clarification Deductions Donations Ram Mandir APNOKACA
Section 80G of the Income-tax Act, 1961 is a provision designed to encourage charitable contributions by offering tax deductions to individuals and organizations in India.