One of the main reasons that salaried employees have difficulty with tax calculations is the inability to comprehend the salary structure and components. The net CTC provided to you by your employer includes a variety of tax-saving components. In order to get the most benefit from these benefits, you need to be aware of the …
Read moreHow to calculate Income Tax on salary with examples
If your main source of income is salary then you need to submit your Income Tax Return, or ITR-1 Form. It is also called Sahaj for tax year 2020-21 to report the income earned during the financial year 2019-20. Ineligibility to fill ITR-1 Form Residents whose main source of income is salary will have to …
Read moreHow can a salaried employee file income tax return?
What is Income Tax Refund? Tax return for income is a comprehensive statement of your earnings and tax liabilities, as well as taxes payable as well as tax refunds. Person may be liable for tax more than they’re required to pay. For example, if the amount of advanced tax or tax taken at the source …
Read moreHow much time it takes to get income tax refund in India