All Posts by Pratik Gelda

Residential Status of Individual, HUF, Firm and Company

Income Tax in India is levied on the basis of residential status of the taxpayer. So, ascertaining the residential status is very important because taxability and various exemptions/deductions are based on it. Section 6 of the Income Tax Act, 1961 governs the rules for determining the residential status. It lists different conditions that determine whether the […]

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Ultimate guide on presumptive taxation – section 44AD, 44ADA and 44AE

Last updated on February 3, 2018IntroductionPresumptive taxation scheme – section 44AD, 44ADA and 44AE – was introduce to provide some relief to small business owners from maintenance of books of account and from audit.It is called presumptive taxation scheme because under this scheme, the income of the taxpayer is estimated at certain percentage of the […]

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Step by Step Guide on how to e-file Income Tax Return online for A.Y. 2018-19

The due date of filing Income Tax Return for individual assessee for Assessment Year 2017-18 is 31st July 2017. Many of you must have also got Form 16 from your employer which certifies that tax has been deducted at source (TDS) from your salary. So, you must file your Income Tax Return of Salary income in order to claim the refund on tax deducted or if you had to disclose additional income on which tax is yet to be paid. In either of the case, you have to file your Income Tax Return beforehand. I have prepared step wise procedure to help you in filing your salary return.

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