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How to file Income Tax Return in India?

Income tax return filing is the foremost requirement for all registered taxpayers in India. With the help of the Income Tax online portal, income tax e filing has become easy via offline and online modes. E-filing is a new process for filing income tax returns and in this blog; we will discuss the e filing of income tax returns so that you can smoothly do it yourself. First of all, we need to understand the importance of filing income tax. The income tax act 1961 regulates certain eligible persons to file their income tax once a year. The tax is incurred for specific people who earn according to different slabs. Below mentioned is the new and old tax regime according to the income tax department. Income Tax Slab Tax Rates As Per New Regime Tax Rates As Per Old Regime ₹0 - ₹2,50,000 Nil Nil ₹2,50,001 - ₹ 5,00,000 5% 5% ₹5,00,001 - ₹ 7,50,000 ₹12500 + 10% of total income exce...
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Benefits of A Private Limited Company Registration

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Before you go ahead and start a business on your own, you need to know whether you are going to go for public limited company registration or private limited registration. It can be decided by keeping into consideration the objectives of the company, the company goals, as well as the structures and operations that are based on the type of company that you are planning to open. For a private limited registration of the company, there are certain benefits for sure. A company that is registered as a private one is mostly preferred by entrepreneurs due to the wide range of benefits that it provides. How Can A Private Limited Company Registration Benefit You? Even though the process of a private limited company registration tends to be a bit expensive, it is definitely the most opted one by the business owners since it has a lot of benefits that come forth with the registration. One of the most important benefits would be limited liability. For a private business, the shareholders of th...
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Location: Delhi, India
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All you need to know about TCS return, buyers, sellers, and tax collection

  Tax Collected at Source (TCS) is a technique used by the government to collect tax at the source of a transaction. A specific percentage of tax is collected at the source from a buyer and the seller will pay it to the government. Most transactions are related to businesses in this aspect. As per Section 206C of the Income Tax Act 1961, the buyer will have to pay a certain percentage of tax based on the goods, services, and /or commodities he is buying. The seller is bound to collect this tax from the buyer. All government and corporate collectors and deductors are liable to file TCS Return and pay the government the rightful sum as per the act. This filing can be done either physically or electronically using the online domain of the same public institution. Classification of buyers and sellers based on TCS As per the clauses mentioned in this act, the buyers and sellers are defined accordingly. 1.      Sellers Sellers are the goods and service providers who ...
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