What is Annual Information Statement (AIS)? What information is shown in AIS? How AISis different from 26AS? How to access AIS? How to give feedback on AIS?

Classification of rental income from property under the head 'Income from House Property' or under 'Profits and gains from business or profession' has been a pretty debatable topic. Let's try to sort out this confusion through our latest blog.

How can I lower my tax liability? What are deductions? How can I avail the benefit for the medical expenses incurred? What are sections 80D, 80DD, 80DDB, 80E, 80G, 80GG?

How to file an Income Tax Return? What are the mistakes while filing the ITR? How can an error in the ITR be rectified? What all income has to disclosed in the ITR?

Have you ever wondered why does an individual file his Income Tax Return? Simply, people earn some income during a particular year and generally make couple of investments in various schemes and undertake several expenses related to their business or profession. On such income earned by the individuals, they need to pay some amount of tax to the government. Hence, in order to declare the income and make such payment of tax, the Income Tax Return is filed.