As the financial year of 2023-24 has ended there is a natural rush of some prudent citizens to file their Income Tax Returns. However, there is also a large section who needs to be coaxed to complete their compliances and further there are some who are totally oblivious of this requirement.
Firstly there is a misconception that only those who have taxable income, or any tax to pay, need to file an Income Tax Return. The law has become so over-arching now, that even if you have no income, but you trigger some high-value transactions, then you need to file your Income Tax Return. Who should file an Income Tax Return:
1. Any individual (male/female/senior citizen) whose total income exceeds the minimum taxable threshold is required to file an Income Tax Return.
Denne historien er fra May 2024-utgaven av Incredible Goa.
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Denne historien er fra May 2024-utgaven av Incredible Goa.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
CELEBRATING CHOCOLATE DAY AT FAIRFIELD BY MARRIOTT, GOA BENAULIM
Indulgence took center stage at Fairfield by Marriott, Goa Benaulim, as chocolate lovers gathered for an unforgettable Sunday Brunch in honor of Chocolate Day.
CHEF KAMLESH PATIL Redefining Culinary Excellence at Planet Hollywood Thane City
Chef Kamlesh Patil's journey into the world of gastronomy is rooted in the warmth of his family's kitchen.
ROOTS OF SUSTAINABILITY: GOA'S AGRICULTURAL RENAISSANCE
The Goa State Amritkal Agricultural Policy 2025 aims to revolutionize the state's agricultural sector, focusing on sustainability, preservation, and modernization.
BUDGET 2025: WHAT DOES IT SAY?
If your income crosses the above thresholds, then the rebate goes away.
JERRY PINTO
The Visionary Who Transformed Goa's Event Industry
THE EARTH THAT SINGS Goa's Cultural Renaissance at Prastaar 2025
Goa's Cultural Renaissance at Prastaar 2025
APRIL AWAITS: GOA'S EARLY START TO A BRIGHT ACADEMIC JOURNEY
The Goa government has announced a significant change to the 2025-26 academic calendar.
GOA GOES CASHLESS FOR TRAFFIC FINES: A NEW DIGITAL ERA
In a bold move to enhance transparency and curb corruption, the Goa Police have announced that cash payments for traffic fines will be eliminated starting from the 2025-26 financial year.
COUGH, SNIFFLE, REPEAT: MANAGING THE CYCLE OF YOUR CHILD'S COUGHS AND COLDS
Children are particularly vulnerable to infections. Frequent exposure to new viruses at daycare or school can lead to multiple bouts of common cold.
ANIMAL SUPERSTITIONS Why Some Creatures Are Considered Good Luck (or Bad!)
On a quiet evening in a Goan village, a woman sweeps the front porch of her ancestral home.
