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Hey there,
We are super excited to let you know that Fisdom has partnered with Moneycontrol, one of the leading online finance platforms in India. MoneyControl users can now easily invest in zero commission, zero-fee mutual funds through Fisdom .
We have something more to share with you. Head over to the Top Bite section to explore!.
The tax filing deadline is almost upon us. As you would know, the deadline this year has been postponed to 30 Sep 2021 due to the pandemic. One of the many things that worry taxpayers is the usage of the right tax return or the ITR. We bring you a primer on which ITR should you choose.
This form can be used by a resident individual whose total income comes from the below-mentioned sources or meets the following conditions
This form can be used by an individual or a HUF whose total income for the FY 2020-21 come from the below-mentioned sources.
This form can be used by an individual or HUF who has income from business sources or from following a profession. In addition to these criteria, you could also have income from salary/pension and/or house property/income from other sources.
This form is applicable to individuals, HUFs and partnership firms(other than LLPs) and includes incomes from
This form is applicable to all firms like LLPs, Association of Persons (AOPs), Body of Individuals (BOIs), Artificial Juridical Person (AJP), Estate of the deceased or insolvent, business trust, and investment funds.
All companies other than the ones who claim deduction under Sec 11(Income from property held for religious or charitable purposes) should use this ITR.
All individuals or companies who are required to file their returns under sections 139(4A), 139(4B), 139(4C), 139(4D),139(4E), 139(4F).
The process of return filing can be a nerve-wracking process for many. So we at Fisdom have decided to make it convenient for you. You can now file IT returns right on your Fisdom App for free. Isn’t that so cool? And all it takes is 3 simple steps.
Your ITR will be filed immediately and you will receive an acknowledgment from the IT Dept.
I have taken an education loan for my wife’s higher studies. Can I claim the deduction of interest payment on the loan? – Ankit Tiwari
Education loan taken for wife is eligible for deduction. Therefore, you can claim the tax deduction of interest payment of education loan under section 80E.
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