1. What is Form 26AS? Includes info on tax deducted on your income by deductors Details of tax collected by collectors Advance tax paid by the taxpayer Self-assessment tax payments Regular assessment tax deposited by the taxpayers (PAN holders) Details of refund received by you during the financial year Details of the High-value Transactions in […]
A taxpayer may want to file his income tax return for reporting his income for a financial year, carrying forward losses, claiming an income tax refund etc. An income tax return is a form which enables a taxpayer to declare his income, expenses, tax deductions, investments, taxes etc. The Income Tax Act, 1961 makes it mandatory under various scenarios […]
Income Tax Refund – A Comprehensive Guide While paying taxes is the duty of every Indian citizen, getting a refund for it is also their right. A refund is applicable if the person has paid more than the required tax to the government. In this post, we illuminate what ITR is and what steps to […]