Facing Income Tax Demand Notices for Short-Term Gains? Here’s What You Need to Know
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By Nagaraju
- In ITR file
If you’ve received a demand notice from the Income Tax (I-T) department for short-term capital gains (STCG), you’re not alone. Recently, many taxpayers—particularly those with stock market transactions—have been served tax notices demanding payments on their equity gains. The reason behind this? A misunderstanding of the Section 87A rebate by the I-T department has left […]
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Understanding Defective Notices Under Section 139(9)
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- In income tax return ITR file
Receiving a defective notice under Section 139(9) from the Income Tax Department can be stressful, but understanding what it means and how to respond can make the process much smoother. Defective notice indicates that there are errors or omissions in your filed income tax return (ITR) that needs to be corrected. In this article, we’ll […]
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Do I Need to File an Income Tax Return If I Earned ₹6 Lakhs and Spent 5 Lakhs?
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- In ITR file
Filing an Income Tax Return (ITR) is a crucial responsibility for individuals earning a certain income threshold. If you’ve earned ₹6 Lakhs, and spent ₹5 Lakhs, you might be wondering if you need to file an ITR and what happens if you don’t. Here’s a detailed look at the requirements and implications. Income Tax Filing […]
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I earned ₹1 Crore and spent ₹99.99 lakhs. Should I file IT Returns in India?
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- In ITR file
Understanding Income Tax Filing Obligations Earning ₹1Crore Rupees in a financial year is a significant achievement. However, it brings with it the responsibility of filing your Income Tax Return (ITR). If you’ve spent ₹99.99 Lakhs of that income, you might be wondering whether you still need to file an ITR, how to go about it, […]
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10 Tips for Efficient and Accurate Tax Filing for Corporations
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- In Income tax income tax return ITR file Tax filing
Tax filing season – the unavoidable yet often burdensome time of the year that every corporation must face. If you’re a beginner navigating the complexities of corporate tax filing, fear not, you’re not alone! We understand the challenges of ensuring efficient and accurate tax filing, and that’s why we’re here to lend a helping hand. […]
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