Is It Crucial to File Income Tax Returns Below 2.5 Lakhs and 3 Lakhs?

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By  Online Legal India

Published on  02 May 2023

Updated On  22 Aug 2023

Category  Income Tax

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Everyone earning less than 2.5 lakhs per year is currently exempt from taxation. As a result, the question arises. Is it necessary for those without tax liability to file an income tax return? This blog will discuss this question and clear your doubts.

An In-depth Study of The Concept of Crypto Taxes in India

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By  Online Legal India

Published on  10 Feb 2023

Category  Income Tax

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To deal with Crypto Tax in India, in the 2022 budget, a new section 115BBH was included. This clause imposes a 30% tax (with applicable surcharge and 4% cess) on Crypto trading earnings starting from 1st April 2022.

The Importance of Income Tax Return Filing in India

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By  Online Legal India

Published on  20 Jan 2023

Category  Income Tax

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The Income Tax Act of 1961 & the Income Tax Rules of 1962 require citizens to file income tax returns with the IT Department at the end of each fiscal year. These gains must be written before the specified deadline.

Everything You Need to Know About Proprietorship Income Tax Return & Its Compliances

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By  Online Legal India

Published on  18 Jan 2023

Category  Income Tax

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An audit is required if a proprietorship firm's yearly sales income surpasses one crore. In addition, an audit would be needed if the total gross receipts for the assessment year exceeded 50 lakhs.

Methods of Exemptions and Deductions To Save Tax for Salary

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By  Online Legal India

Published on  12 Dec 2022

Updated On  06 Jan 2023

Category  Income Tax

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The Income Tax Department in India levies an individual's income based on the tax bracket to which they belong. Taxpayers are constantly seeking methods to pay no income tax. They, however, miss out on pay optimization.