Income Tax

Why Are Taxes Levied?

Taxes are financial charges that a government imposes on its citizens or residents. These charges are compulsory and can be levi…

Income from Salary under Income Tax Act 1961

Basic Concept of Income from Salaries The basic concepts of income from salaries encompass the fundamental principles and elemen…

Income from Salary: Understanding the Basics

As an employee, you earn a salary for your work. This salary is your income from salary. Income from salary includes your basic…

How to change address in PAN Card in India

If you have recently moved to a new address in India, it is important to update your PAN card with your new address. The Permane…

How to update your address on the TRACES website

TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online platform that provides a range of services rela…

Sources of Income under Income Tax Act 1961

The Income Tax Act 1961 recognizes five main sources of income for tax purposes. These sources are income from salary, income f…

Component of Income Tax

Table of content 1) Income Tax Act 1961 2) Annual Finance Act 3) Income Tax Rules 4) Circular and Notif…

Introduction to Income Tax Act 1961

In India, Income tax is a tax you pay to the government based on your income. The government uses this tax money for vario…

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