How is taxable income calculated?
Taxable income is calculated by subtracting allowable deductions, exemptions, and adjustments from the total income earned in a given tax year. The process typically involves identifying all sources of income,…
Tax
TDS Getting Deducted Despite Zero Tax Liability? Here’s How You Can Avoid It
If you find that TDS (Tax Deducted at Source) is being deducted despite having zero tax liability, there are steps you can take to avoid it. Firstly, you can submit…
Understanding India’s GST Reverse Charge Mechanism (RCM)
The new Goods and Services Tax (GST) scheme was launched in India on July 1, 2017. In the years since, this tax regime has streamlined indirect taxes in the country…
Indian Union Budget 2023 Summary and Analysis
The Indian Finance Minister, Nirmala Sitharaman, presented the Union Budget 2023 on 1st February 2023, laying out the government’s plan to steer the economy towards a higher growth trajectory and…
What is Credit Karma Tax Prep? Features, Pros, and Cons
Many People understand Credit Karma because of its customer credit products the ability rating. It also provides solutions, such as tax preparation. That is the third year tax preparation services…
7 Best Free Tax Software in 2020
It is a type of computer software designed to help individuals or companies prepare for and file income, business, and similar tax returns. Tax software modernizes the process of filing taxes by walking…
