Tax Computation
How to file Form 67 on Income Tax Portal?
If you've earned income outside India and paid tax on it in the foreign country, you may be eligible to claim Foreign Tax Credit (FTC) in India. This helps you avoid double taxation on the same income. To claim this credit, the Income Tax Department ...
How to discard ITR on Income Tax Portal?
Previously, if you made an error after filing your Income Tax Return (ITR), you had to wait for it to be e-verified before filing a revised return. Now, with the “Discard ITR” feature, you can delete a filed return before it is e-verified — saving ...
Understanding how Losses get Adjusted
Setting off your incomes against losses from different income heads and financial years can be quite complex due to various Income Tax Department rules. The Loss Adjustment tab helps simplify this by providing a clear breakdown of how your losses are ...
Download Financial Statements
If you have income from business or profession, your Profit & Loss (P&L) Statement and Balance Sheet will be automatically generated based on the details you provide. You may also be required to report your assets and liabilities while filing your ...
Understanding Tax Interests & Late Filing Penalties
If you missed paying your quarterly advance tax on time or filed your Income Tax Return (ITR) after the due date, the Income Tax Department may charge you interest and penalties under various sections. Web Mobile Web Steps to View Interest & Penalty ...
Choosing the Best Tax Regime?
With frequent changes to both the Old and New Income Tax Regimes, it’s essential to ensure you're choosing the one most beneficial for your situation. The Regime Analyzer helps you compare both regimes and pick the one that gives you maximum tax ...