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Deductions under Chapter VI A of the Income Tax ActChapter VI A of the Income Tax Act, 1961 (ITA) provides for a number of deductions that can be claimed against taxable income. These deductions are designed...

The Income Tax Act, 1961 (ITA) divides income into five heads for taxation purposes: Income from salary This includes income earned by an individual in the form of salary, wages, commissions, bonuses, and any...

Here are the steps on how to incorporate a private limited company in India: Choose a name for your company. The name of your company must be unique and must not be already registered with the Ministry of...

Maintaining Books of Accounts for Small and Medium Businesses in India  Books of accounts are a record of all financial transactions of a business. They are essential for tracking income and expenses,...

Registration under Section 12A of the Income Tax ActSection 12A of the Income Tax Act, 1961 (the Act) provides for the registration of certain trusts and institutions that are engaged in charitable or...

Tax Audit Under Income Tax ActTax audit is a mandatory requirement for taxpayers who fall under certain categories as specified by the Income Tax Act, of 1961. The purpose of a tax audit is to ensure that...

How to E-Verify your income tax returnE-verification is the process of electronically verifying your income tax return. It is a secure and convenient way to verify your return and submit it to the Income Tax...