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History of Income Tax in India ( Self Guide)

History of Income Tax in India ( Self Guide)

Taxation existed since the dawn of early civilization. The word tax is based on the latin word taco which means to estimate. To tax means to impose a financial charge or other levies upon a taxpayer. Tax is a compulsory payment to government by its citizens. This...
Income Tax Saving Schemes (2023 Guide)

Income Tax Saving Schemes (2023 Guide)

We all want to create a financially secure future where we can cover all our expenses without having a regular source of income. Savings are a given for the success of any financial plan. But paying income tax on your entire taxable income can lower your savings and...
Income Tax Office In Delhi (Overview)

Income Tax Office In Delhi (Overview)

Income tax office in Delhi is a government agency responsible for collecting taxes from individuals and businesses located within the city. It is run by the Central Board of Direct Taxes, which is part of the department of revenue in India’s ministry of...
Section 112 of Income Tax Act (Quick Guide)

Section 112 of Income Tax Act (Quick Guide)

Taxpayers need to understand the provisions of Sections 112 and 112A of the Income Tax Act. These clauses calculate capital gains tax on stocks, mutual funds, and other types of personal property. This article details section 112 of Income Tax Act. What is Section 112...
Advance Tax under Income Tax (With Dates)

Advance Tax under Income Tax (With Dates)

Advance tax under income tax means paying it in full in advance, rather than paying it in a lump sum at the end of the year. The same is true for the expression Pay as you Earn. These funds are used for national development, infrastructure reform, and social...