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Discover the smart approach to filing your income tax return (ITR) even with no income. Learn the benefits and strategies for managing your taxes efficiently. Explore expert insights on navigating tax obligations wisely, regardless of your income status.
There will be more than 53 lakh first-time ITR filers in the financial year 2023-24, which is excellent news, and chances are that you are also one of them.
ITR or Income Tax Return is a form in which individuals file details about their income and taxes to inform the Income Tax Department.
Filing an income tax return offers several benefits, both for individuals and the overall functioning of the economy. Here are some key advantages:
21 Ways To Save Tax From Salary: Sections 80C, 80CCC, and 80CCD in India allow professionals who are salaried to reduce their tax obligations.
SIP mutual funds: Systematic investment plans (SIPs) that invest in mutual funds can be considered safe investments in the long term if you choose a mutual fund with a sound investment strategy
Capital gains tax does not apply to the inherited property, as there is only a transfer of ownership and no sale.
PPF खाता दीर्घकालिक सेवानिवृत्ति योजना के लिए एक अच्छा उपकरण हो सकता है क्योंकि यह कई लाभ प्रदान करता है जो इसे एक आकर्षक निवेश विकल्प बनाते हैं।
The maximum limit of deduction available under Section 80 CCD is Rs 2 lakhs; this includes the additional deduction of Rs 50,000/- available under NPS.
ITR stands for "Income Tax Return." It is a document that taxpayers file with the government to report their income and calculate the amount of tax they owe or the refund they are entitled to.
Because even a tiny error might get you into trouble with the income tax department, you must file your income tax return (ITR) with the utmost care.
Wealth creation is the process of generating wealth, or economic value, through various means such as earning income, saving and investing, and building and growing businesses.
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