How to reduce the tax of business income? Tax planning

It is one of the most asked questions by an entrepreneur. How to save tax on my business income? Tax Planning To save taxes on business income, it is important to know the Income-tax rules and provisions and the related compliances to be made for Tax Planning. If a provision is not complied with, the … Read more

How to save tax on Salary income FY 19-20 A.Y 20-21

One of the most asked questions of every salaried individual is How do I save tax on salary?. There are numerable exemptions and deductions allowed by the government itself which will allow you to save tax on salary. So in order to save tax on Salary, you will need to be familiar with the tax … Read more

Income Tax slabs for F.Y 19-20, A.Y 20-21

What is the income tax slab? The Income tax slab FY 19-20 is a set of predetermined rates based on which a taxpayer’s income is assessed. Income Tax slab Every year amendments are made to the Income tax act by proposing a finance bill which directly decides the threshold limits for various tax rates. This … Read more

Tax Audit under the Income-tax Act 1961 for A.Y. 19-20

Introduction An income tax audit is an independent verification of the books of accounts of the taxpayer to ensure that all compliances concerning the Income-tax Act 1961. Ensure that no discrepancies exist in the filing of income tax returns. However, Through tax audit it is guaranteed that the account is being audited income earned by … Read more

Where is my tax refund of Federal tax?

Where is my tax refund of Federal tax? You need to file a return for refund. On the IRS site once you file an electronic return. You will acknowledge the receipt of return filled. Your refund information is available within 24hrs of filled return this is an answer to your question. Where is my tax … Read more

Steps to Check Income Tax Refund Status?

Steps to Check Income Tax Refund Status? You are eligible for refund only when your Income tax payable is more than your actual tax liability for the Financial year.  Refund from Income tax is given by Income tax department once they process your return. Income tax refund status you can check online by login to … Read more

What is Section 194C of Income Tax Act?

1. What is Section 194C of Income Tax Act? Section 194C basically states that any person who is responsible for paying any amount to the resident contractor for any work to be carry out (which includes supply of labor), in fulfillment of a contract between the contractor and the following. Any local authority or any … Read more

How to pay your Council Tax bill?

How to pay your Council Tax bill? If you want to know the answer on how to pay your council tax bill?. Then Steps you need to follow. Firstly, Register will council for council tax bill. Secondly, fill up the relevant details for payment. Thirdly, pay thru Net Banking/ Debit or credit card. Council Tax … Read more

How to Save US Federal TAX in 2019

There are plenty of ways on which you can save your US Federal Tax. Just you have to do Tax planning. The Step you can take without doing and Tax evasion. This is for Tax calculation of year 2019. Future Education If you incurred qualifying educational expenses.  For the First qualifying amount $10,000. You can … Read more

How to save your Federal Income Tax

If you earned income tax credit. You have low moderated income. This can help you in reducing the amount of tax. You must you must specific requirements like filing of tax returns. If your don’t pay your tax.  You need to file a return and can claim a refund from the Income Tax Department. Deductions … Read more