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 […]
All income of the individual is grouped under the below provided five heads: 1. Income from Salary 2. Income from House Property 3. Profit and gain from Business or Profession 4. Capital Gain 5. Income from Other sources Who […]