F.A.Q
Frequently Asked Questions
No it isn't. Assessment year is the year following the financial year, which is when the tax authorities evaluate your tax statements.
Gross Total Income is the sum total of your income from all sources, including salary, property, royalty, capital gains etc. We will calculate this for you once you enter it all in.
No, it isn’t. Your Gross Total Income includes sources that are exempted from tax, and these won’t be included in your net taxable income.
Net Taxable Income is the portion of your income that is subject to tax, i.e. the Gross Total Income minus various tax exemptions that may be applicable. We does this calculation for you once all the information is available.
Advance tax is the income tax that is payable once your income is more than Rs.10,000 in the given financial year.
No, only the employee contribution to the EPF is nontaxable.
You can, but based on certain considerations like the period, amount and the kind of bank.
Medical expenses may be exempt from tax, but only if the expense is for yourself or a dependent and only on certain diseases as specified under the Income Tax Act.
ITR-V is an acknowledgement slip generated on filing the income tax return online. This ITR-V is to be signed and sent to the Income tax department-CPC by post to complete the return filing process.
The password of the document is a combination of PAN (in lowercase) and date of birth in the format ddmmyyyy. For example, if the PAN is AAAAP0000A and the date of birth is 10-Jan-1990, the password is aaaap0000a10011990
The password of the document is a combination of PAN (in lowercase) and date of birth in the format ddmmyyyy. For example, if the PAN is AAAAP0000A and the date of birth is 10-Jan-1990, the password is aaaap0000a10011990
TDS is Tax Deducted at Source, and is usually deducted from the taxable portion of your salary before it reaches you, every month. This is usually mentioned by the company on tax documents.
No, inheritance is generally not considered taxable.
If you’re an individual who earns via salary, house rent, business, profession, hobby and your income is over the taxable limit, you are eligible to pay tax. You needn’t worry about it as We will do this for you.
Individuals with a normal to severe disability are eligible for tax benefits. However, the extent of the disability will have to be certified by an authorized medical professional.
Yes, you can claim tax benefits through HRA (House Rent Allowance), subject to certain conditions.
Yes, they are. There are several tax-free bonds as approved by the Government of India.