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Showing posts with the label Income Tax Return

What is a Server and How Does It Work?

The internet is a huge network where billions of devices are connected. Every time you watch a video, open a website, or send an email, something is working in the background to make it happen. That “something” is called a server . Servers are the backbone of the internet, and without them, our digital world would not exist. But what exactly is a server, and how does it work? In this blog, we will explain everything in simple English so anyone can understand. What is a Server? A server is a powerful computer that provides services, resources, or data to other computers, which are called clients . In simple words, a server is like a shop, and clients are customers. Customers request something, and the shop provides it. Similarly, when you open a website on your laptop or phone, your device sends a request to a server, and the server sends back the webpage data. Example of Servers in Daily Life When you search on Google, your request goes to Google’s servers, which send back the se...

Complete Guide to Filing Income Tax Return (ITR)

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It is mandatory for every citizen in India whose income exceeds a certain limit to file Income Tax Return (ITR). Apart from being a legal process, it is also important for maintaining financial stability, obtaining loans and other financial tasks. If you are filing ITR for the first time or want to understand the process better, then this guide will help you. 1. What is Income Tax Return (ITR)? Income Tax Return (ITR) is an official document in which an individual or business submits information about their annual income, expenditure, tax deductions and tax payable to the government. It is managed by the Income Tax Department and comes under the Income Tax Act, 1961. 2. Who can file ITR? The following individuals and entities can file ITR in India Salaried individuals whose annual income is above the taxable limit Self-employed or freelancers who offer their own services Businessmen and entrepreneurs Hindu Undivided Family (HUF) Companies, Partnership Firms and LLPs NRIs (Non-Resident ...

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