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How to Declare Income from House Property and Calculate Net Annual Value for Your Income Tax Return
Learn how to calculate house property income, Net Annual Value, rental income, deductions and correctly report property income in your income tax return.
Owning a house can be a valuable investment, but when it comes to filing an income tax return, property income often creates confusion. Whether you live in your home, rent it out, or own more than one property, understanding how income from house property is calculated can help you report...
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Understanding the 3-Year Bar: Why You Can No Longer File Old GST Returns
Understand the 3-year bar on gst return filing, why old returns become time-barred, penalties, GSTR-3B issues and what businesses should do.
Understanding the 3-Year Bar on GST Return FilingFor many businesses, an old gst return may seem like something that can be filed whenever the books are finally updated. That assumption is no longer correct. The GST framework now places a three-year time limit on filing certain pending returns, which means...
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Everything You Need to Know About Tax Liability on Inherited Property and Cash in Income Tax E Filing
Understand income tax e filing rules for inherited property and cash, including capital gains, gifts, indexation, documentation, and tax-saving tips.
Receiving property or cash after the death of a parent, grandparent, spouse, or another family member can bring financial security, but it can also raise an important question: is the inheritance taxable? In most cases, receiving an asset through inheritance is not itself treated as taxable income. However, tax consequences...
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How to Claim Deductions for Preventive Health Checkups via E Filing of Income Tax
Learn how to claim deductions for preventive health checkups through e filing of income tax under Section 80D with GST Wale's expert guide.
When it comes to saving income tax, most taxpayers focus only on investments and often overlook the tax benefits available for preventive health checkups. The e filing of income tax process makes it easier than ever to claim eligible deductions under Section 80D, provided you understand the applicable rules and...
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How to Correctly Match Your GST and HSN Code to Avoid Tax Penalties
Learn how to match your gst and hsn code correctly, avoid tax rate errors, issue compliant invoices, and reduce GST penalty risks.
For any business registered under GST, getting the gst and hsn code right is more important than simply putting a code on an invoice. The correct classification of your goods or services determines the applicable GST rate, affects the tax charged to customers, and supports accurate reporting in GST returns....
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What Should You Do If You Paid Tax in the Wrong Head in GST R 3 B?
Paid tax under the wrong head in gst r 3 b? Learn how to correct it using PMT-09, ledger adjustment, and proper GST compliance steps.
Paying GST under the wrong tax head in gst r 3 b is more common than many businesses realise. A taxpayer may accidentally pay CGST instead of IGST, SGST instead of CGST, or select the wrong minor head while creating a challan. The good news is that such an error...
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