The certificates of taxes that are deducted at source on all the sources of income that you have are the Form 16, Form 16A and Form 16B. However, there is a huge difference among all of them in terms of their feature and the purpose they serve. In this article, we will try to list down all the differences that these forms have. Each individual … Continue reading Know What is Form 16A and Process How to Get it Online?
Did you know that there is nothing permanent in this world other than taxes and death? There even is an old saying about the same. However, a few months back BJP MP Subramanian Swamy pitched for abolition of Income Tax to ease the burden on the middle class and promote higher economic growth in the country. As a result you won’t need to pay any … Continue reading Here’s Why the Income Tax System in India Should not be Abolished
Form 16 is a very important document which is usually given by the employer for filing income tax returns. In India, those who cross the income tax limit of Rs.2 lakh per annum have to file tax returns mandatorily. Form 16 essentially has two parts. Form 16A provides tax deducted by the employer from the source along with names and addresses of employer and employee, … Continue reading Form 16 Guide: What is Form 16 and How to Use it to File Tax
Forms introduced under the Income-tax Act, 1961 such as the 16, 16A & 16B relate to TDS as per specific situations. The employer should understand what is Form 16 before issuing it to an employee, which specifies the total amount of tax deducted from an employees’ salary. Civic duty includes paying tax regularly on or before the deadline. The salary for government employees’, expenses related … Continue reading Here is What Is Income Tax Form 16 And Why Is It Important?
Filing Income Tax Return or ITR is a major requirement for salaried professionals. It is mandatory and with time filling the ITR has become easier and faster today. If you are unsure about the amount you may use the online Income Tax calculator available online. This is a free and easy tool to use and by providing some basic information it helps you compute the … Continue reading Important Things To Consider For Filing The ITR