Questions and Answers

Q: The period FM when income should be taken for calculation of income tax for the year 2019 to 2020.

Ans.: If you want to calculate Income for Financial Year 2019-2020 (Assessment Year 2020-2021) then you have to calculate the Income generated for the period starting from 1st April, 2020 till 31st March, 2021 for calculation of Income Tax which also helps you to calculate Income Tax Return (ITR) of the respective period. 

Comments

Post a Comment

Popular posts from this blog

AN INITIATIVE TO TAKE A RIGHT STEP

Image
Hello Friends,  This is my first post and need your support to grow.  I am working as a Financial Advisor  and Tax Consultant.   I would like to suggests you that just take   A Right Step: To Save  To Plan  To Invest To make your money grow  and this will help you To move a right step about your financial planning and growth .  Thanks & Regards Kulvinder   Kaur B.COM(H), MBA(Finance) 9871580806,8826566751 rightsteptoinvest@gmail.com
Read more

IMPORTANCE OF BUDGET

Image
Hello Friends, My this blog is related to tell you about the Importance of Budget.  "Budget is a plan in which you decide how to spend money  systematically." Let's take a simple example and starts from your home: Rahul is a married man with two kids earns Rs. 35,000 in a month and get on the 10th of a month and starts spending it in various expenses like bring a ration, pay for school fees, buying vegetables, buy some clothes, pay some medical expenses etc. and at the 25th of the month he already spend Rs. 28,000 and only Rs. 7,000 left with him without any savings for rest of the month and then he worried that how to spend for rest of the month.  Ramesh is a married man with two kids earns Rs. 35,000 in a month and gets his salary on the 10th of a month and makes a budget and spend accordingly and at the end of the month he has left some money as a savings which he uses as an investment as well as for emergency.  In the second examp...
Read more

HAPPY NEW YEAR 2020

Image
Hello Friends , Happy New Year 2020.  Happy New Year is a word which means a coming year will be happy for all of us and gives all the happiness and good wishes for all that our dreams come true.  Yes, So I will give you a secret mantra for all the successful years ahead which makes you happy in all years ahead of your life.  Just take a Right Step: To secure your income. To secure your Life. To secure your loved ones.  To secure your Present as well as Future. Thanks and Regards Kulvinder Kaur
Read more