Facing Income Tax Demand Notices for Short-Term Gains? Here’s What You Need to Know
If you’ve received a demand notice from the Income Tax (I-T) department for short-term capital gains (STCG), you’re not alone. Recently, many taxpayers—particularly those with stock market transactions—have been served tax notices demanding payments on their equity gains. The reason behind this? A misunderstanding of the Section 87A rebate by the I-T department has left […]
Read MoreUnderstanding Defective Notices Under Section 139(9)
Receiving a defective notice under Section 139(9) from the Income Tax Department can be stressful, but understanding what it means and how to respond can make the process much smoother. Defective notice indicates that there are errors or omissions in your filed income tax return (ITR) that needs to be corrected. In this article, we’ll […]
Read MoreDo I Need to File an Income Tax Return If I Earned ₹6 Lakhs and Spent 5 Lakhs?
Filing an Income Tax Return (ITR) is a crucial responsibility for individuals earning a certain income threshold. If you’ve earned ₹6 Lakhs, and spent ₹5 Lakhs, you might be wondering if you need to file an ITR and what happens if you don’t. Here’s a detailed look at the requirements and implications. Income Tax Filing […]
Read MoreI earned ₹1 Crore and spent ₹99.99 lakhs. Should I file IT Returns in India?
Understanding Income Tax Filing Obligations Earning ₹1Crore Rupees in a financial year is a significant achievement. However, it brings with it the responsibility of filing your Income Tax Return (ITR). If you’ve spent ₹99.99 Lakhs of that income, you might be wondering whether you still need to file an ITR, how to go about it, […]
Read MoreAdvance Tax due dates for the Financial Year 2023-24 (Assessment Year 2024-25)
Advance Taxes are an important contribution by all taxpayers as the taxes collected will be used by the government as per their budget promises. Most importantly, timely payment of advance taxes helps the tax filers to reduce their interest for delayed payment of taxes. Interest under Section 234 B & 234 C of Income Tax […]
Read More10 Tips for Efficient and Accurate Tax Filing for Corporations
Tax filing season – the unavoidable yet often burdensome time of the year that every corporation must face. If you’re a beginner navigating the complexities of corporate tax filing, fear not, you’re not alone! We understand the challenges of ensuring efficient and accurate tax filing, and that’s why we’re here to lend a helping hand. […]
Read MoreA New Beginning
eTaxMentor was launched in 2009 to empower individuals and businesses to file their taxes on the web. Over the last decade, we expanded our services to include taxation, GST, bookkeeping, and other financial services.
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