Difference Between Tax Exemption and Tax Deduction
The Income Tax Act of 1961 specifies various tax exemptions and deductions available to taxpayers in India. These exemptions and deductions can help reduce your overall tax liability, but they…
The Income Tax Act of 1961 specifies various tax exemptions and deductions available to taxpayers in India. These exemptions and deductions can help reduce your overall tax liability, but they…
Form 16 is one of the most important documents for filing income tax returns for salaried individuals. Employers issue form 16 before June 15th every year, and it contains details…
TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are often confused due to their similar names, which leads to taxpayers using the two terms interchangeably. However there…
Fixed deposits (FDs) have long been a favoured investment choice for those seeking stability and guaranteed returns. Especially popular among conservative investors, FDs offer a safe haven where capital is…
The taxes we pay make up a huge portion of the government's revenue, but they aren’t the government’s only source of funds. There are revenue receipts that are not generated…
Albert Einstein once said, “The hardest thing to understand is the income tax.” While he was only joking, there is some truth in the statement. Every year, people face many…