General
Every individual or HUF can claim a deduction from their total income under section 80D for medical insurance premium paid in any given year. The deductio...
Fri, 20 Jun, 2025 at 3:20 PM
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Can a salaried person get exemption under Section 80GG?
If you are salaried and receive HRA from your employer, you cannot claim this deduction. Submit the rent receipts to your employer and this will be included...
Fri, 20 Jun, 2025 at 3:21 PM
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Where can I get Form 16 from?
If you are a salaried individual, it is your employer’s responsibility to provide you with a Form 16, if they have been deducting taxes from the source.
Fri, 20 Jun, 2025 at 3:22 PM
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Can I file my return without Form 16?
Yes. Though the presence of Form 16 makes the tax return filing process way easier, you can still file your returns without Form 16.
Fri, 20 Jun, 2025 at 3:23 PM
Though, your employer must provide you with a Form 16 if TDS is collected, paying taxes if completely your responsibility. If you earn more than the thresho...
Fri, 20 Jun, 2025 at 3:24 PM
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Is there any limit for deductions under Section 80C?
Yes, the upper limit is set at INR 1,50,000 for a fiscal year. Though you can invest more than the limit, you can only claim deductions up to the prescribed...
Fri, 20 Jun, 2025 at 3:28 PM
If a taxpayer fails to file their Income Tax Return (ITR) by the due date, they may be liable to pay penalties and interest. The penalties for non-filing or...
Fri, 20 Jun, 2025 at 3:28 PM
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Can I nominate one bank account for Income Tax refund, and EVC-enable a separate bank account?
Yes, but both bank accounts should have the status Validated.
Fri, 20 Jun, 2025 at 3:29 PM
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Why do I need to pre-validate my bank account?
Only a pre-validated bank account can be nominated to receive Income Tax refund. Further, a pre-validated bank account may also be used by the individual t...
Fri, 20 Jun, 2025 at 3:34 PM
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Can I pre-validate my Loan / PPF account?
No. You can only pre-validate the following accounts for refund: Saving Bank Accounts, Current Accounts, Cash Credit Accounts, Overdraft Account, NRO A...
Fri, 20 Jun, 2025 at 3:35 PM