Phoenix Auditing

Month: April 2019

Income Tax Returns & Filings of ITR

Brief Introduction: Income Tax Return (ITR) is the form in which assessee files information about his Income and tax thereon to Income Tax Department. There are various forms of Income Tax Returns and they are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, ITR 7 Who...

Taxation and Return Filing for Stock Market Traders and Investors

To understand the procedure for Tax Filing for Traders and Investors, one has to first understand the vital elements of Indian Stock Markets. Stock Market – India has two major stock exchanges – the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE). Most of the...

Tax Brackets in India for FY 2019-20

To understand the working methodology of the income tax slab, one has to first understand the vital elements based on which tax slabs are fixed. Income Tax Act, 1961 – The provisions of income tax are contained in the Income Tax Act, 1961 which extends uniformly to the whole of...