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An income tax notice in India is a formal communication from the Income Tax Department alerting a taxpayer about errors, mismatches, or...

Income Tax notices are a common concern for Indian taxpayers, often triggered by errors, mismatches, or omissions during return filing....

The Income Tax Department has established business codes that are used in ITR filing to identify the type of business or occupation of a...

Tax deductions at source (TDS) must be made on insurance commissions and life insurance premium payments, much as tax deductions at other...

A Section 143(2) scrutiny notice is issued when the Income Tax Department selects a filed ITR for detailed verification. It is a formal...

Filing taxes efficiently requires a clear understanding of India’s tax framework and the options available to optimize your savings. For...

The new income tax regime in India offers simplified tax slabs with lower rates but removes most traditional exemptions and deductions....

Tax-free allowances are portions of a salary that are exempt from tax under Section 10 of the Income Tax Act, 1961. For salaried...

Section 24B allows taxpayers to claim deductions on interest paid for home loans under the Income Tax Act, reducing taxable income for FY...

Many taxpayers in India overlook eligible deductions under the Income Tax Act 1961, resulting in higher tax liabilities or lower refunds....