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Filing ITR with No Income is Smart

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  Why Filing ITR with No Income is Smart?   Every year, more than 5 crore people file income tax returns that have no tax liability. So why are people who don’t need to file ITR spending time filing income tax returns when they can relax on their sofa and watch Netflix?  If you are a salaried individual with no tax liability, you don’t need to file an ITR, but if that’s the case, why are 15-20% of all ITRs are Nil ITRs? Whenever we talk about filing income tax returns, the first vision that comes to everyone’s mind is a lot of documents, complex calculations and a lot of confusion; that’s why the general public gets a bit baffled when it comes to ITR filing. Who needs to file ITR in India? Should I file ITR even if I have no income? The first question that comes to everyone’s mind is who should file an ITR. Don’t worry. Here’s a breakdown of who needs to file ITR: Mandatory Filing:  The Government has set Mandatory income tax filing for individuals that exceed the ba...
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T.D.S ON SALE OF IMMOVABLE PROPERTY 2022

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Section - 194IA, Income-tax Act, 1961-2022 Payment on transfer of certain immovable property other than agricultural land. 1.   194-IA.  (1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land), shall, at the time of credit of such sum to the account of the transferor or at the time of payment of such sum in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier,  deduct an amount equal to one   percent  of such sum   [or the stamp duty value of such property, whichever is higher , ]  as income-tax thereon. (2) No deduction under sub-section (1) shall be made where the consideration for the transfer of an   [ immovable property and the stamp duty value of such property, are both, ]   less than fifty   lakh rupees. ...
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Long Home Loan Tenure Might Be Beneficial

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 HOME LOAN  https://karsaathi.in/ Long Home Loan Tenure Might Be Beneficial When it comes to buying a home, individuals nowadays turn to avail a home loan which was not the case until a few decades ago. This is mostly because of increasing urbanization, easy availability of home loans, and higher earnings. While it is good that individuals are availing of home loans to buy or construct their dream home, it brings us to the question of the loan repayment tenure. In case you avail of a home loan, should you opt for a short tenure or a long one? While many individuals opt for a short one to clear their debts quickly, it is beneficial to opt for a long tenure. Here, we take a look at the advantages of availing of a home loan with a long tenure. Read on to know more. You can avail of income tax benefits –  By opting for a long repayment tenure, you can avail of benefits on the interest payment on home loans. Given that there are no alternative tax benefits that are as efficien...
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