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Bharat Ke Veer 80G Tax Benefit: Why only 50% deduction is allowed
Bharat Ke Veer is a website created by the Ministry of Home Affairs where we can donate to support our armed forces. This contribution is eligible for deduction under section 80G. Contributions made to Funds/ Institutions which satisfies conditions mentioned under section 80G(5) of the Income Tax Act are eligible for a 50% deduction from…
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I run a business and also have capital gains: Which ITR form should I use?
If you run a business and have capital gains to report, you should file ITR3. This is because, those who have business income cannot use ITR1, ITR2. So for an individual, this leaves only ITR3 and ITR4. However, ITR4 cannot be used when there is Income under the head ―Capital Gains‖, e.g. Short-term capital gains…