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When people think of tax savings, they usually think of Section 80C benefits, which can total up to Rs. 1.5 lakh in a fiscal year, and many people will stop there. There are, however, other ways to assert tax advantages and lower your yearly income tax bill.

Each of us go through several common milestones in our lives - graduation, first job, marriage, family, to name a few. Similarly, paying income tax for the first time is a common achievement for many people.

It can be safely said that income tax is a concept that most of us are aware of. But before we delve into the topic in detail, it is important to understand what all comes under the ambit of the word INCOME.

Corporates are levied with a Corporation or Corporate Tax that is a direct tax on their net income or profit the corporate enterprise generates from their businesses.

Here are the steps you need to follow to file your child's first income tax.

One of the consolations of paying income tax is the deduction you are able to avail under various sections of the Income Tax Act.