Introduction: Tax-saving is a crucial financial goal, and the Income Tax Act of 1961 offers various provisions to aid in lowering taxable income. Among these, Section 16 stands out as a significant benefit for salary earners. Understanding these provisions is key to optimizing deductions allowed under the Income Tax Act, ensuring taxpayers receive maximum benefits. […]
Introduction: If the income of an individual taxpayer falls below the basic limit for the financial year, no tax is payable in accordance with Section 139(1) of the Income Tax Act.Consequently, they are not required to file an income tax return. Such individuals are exempt from filing returns as they fall outside the taxable bracket. […]
The Role of Tax Planner is to reduce taxable income as much as possible while increasing after-tax profits. You can reduce your taxes via tax planning.
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