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Income Tax

Guide To Proportional Tax And How It Affects Your Wallet

Taxes are something that everyone is aware of in a general way. However, understanding taxes' intricacies and applicability are fundamental in real life. It...

Section 220(2) of the Income Tax Act – Regulations on Interest Payment

Section 220 of the Income Tax Act contains provisions for late payment of tax demands, interest, and penalties (2). It states that the taxpayer...

What Are Form 15CA and Form 15CB of the Income Tax?

Individuals are not the only ones required to ensure all necessary and proper steps are taken, and paperwork is completed for filing taxes. The...

Indian Revenue Service – Profile, Roles, Career Growth

What is Indian revenue service? The Indian Revenue Service (IRS) is a civil services competitive test in India held by the UPSC for recruitment...

Income Tax Assessee: Know More About Concept and Type

An assessee under the Income Tax Act, 1961 is an individual who is liable to pay income tax to the government for a particular...

What Does Form 60 Mean? Declaration & Online Filing

When a person engages in certain transactions listed in Rule 114B of the Income-tax Rules, 1962, but does not possess a permanent account number,...

Why is it Useful to File Your Income Tax Return

Income Tax Return (ITR) is a form that must be filled out to file details of your income and the tax liability to the...

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