CA Final Download the best Free CA FINAL android app for cracking your exam! Download Now
They are the best ca final faculties in India. They have produced many toppers & rank holders. Their video classes are available only here -
CHECK VIDEO CLASSES HERE

Section 4 Income Tax Basics 3

Section IV: Income Tax Basics

5. Form 26AS

Form 26AS is a summary of taxes deducted on your behalf and taxes paid by you. This is provided by the Income Tax Department.

It shows details of tax deducted on your behalf by deductors, details on tax deposited by taxpayers and tax refund received in the financial year. This form can be accessed from the I-T Department’s website.

6. Bring your taxable income down by with deductions.

The lower your taxable income, the lower taxes you ought to pay. So be sure to claim all the tax deductions and benefits that apply to you.

Section 80C of the Income Tax Act can reduce your gross income by Rs.1,50,000/- There are a bunch of other deductions under Section 80C to 80U that reduces your tax liability.

7. Show the income tax department you have paid all your taxes.

Any individual whose income exceeds Rs.2,50,000 (for FY ending March 31, 2015), is required to file their income tax return in India.

I have paid all my taxes, do I still need to file my Income Tax Return? Yes.

Section IV: Income Tax Basics

CAKARt

CAKART

At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time. We are happy to help you make successful in your exams.

.

www.cakart.in.

Click Here to download FREE CA CS CMA Text Books.

Leave a comment

Your email address will not be published. Required fields are marked *