Answer: Income tax is levied or calculated against any person's income earned during a particular financial year (commonly between 1st April to 31st March) in India.

Answer: This is a 12-month time period (starting from 1st April while ending on 31st March ), which immediately follows the previous year or financial year. For instance, for FY 2018-19, the assessment year would be AY 2020-21.

Answer: Any Individual or group of Individual or artificial bodies who have earned income from multiple sources in a particular financial year in India should pay Income tax on it, as per the IT Act. As per the IT Act, there are seven categories of earning people in India, which include individuals, Hindu Undivided Family [HUF], Firms, Companies, Association of Persons [AOP], Body of individuals [BOI], Local authority, an artificial juridical person.

Answer: No, The Income-tax Act applies to both resident or non-resident citizens in India.

Answer: No, The Income tax Act applies to all persons who earn income in India. Whether they are resident or non-resident.

Answer: As per the Indian tax laws, if a particular individual is residing in India for continuous 182 days or more than a year, he/she will be considered as a resident in that particular, fiscal year, regardless of his/her citizenship. If not 182 days, he will be considered as a non-resident.

Answer: A company incorporated under the Indian Companies Act is considered as a resident. In the case of an individual, please refer to the above question.

Answer: The global income earned by both resident individuals and companies is taxable in India. Although, non-residents should only pay tax against the income earned in India.

Answer: It is a particular form which is used to denote the particulars of income earned or received by a person in a given financial year along with the taxes paid on such income. Such form is communicated or sent to the income tax department at the end of the fiscal year.

Answer: Yes, one can easily file an online return using this particular software. A person can also see all the errors of validation and rectify them while filing their returns through this software.

Answer: In case of unlisted securities, there are two options in the software under the head capital gain that is Securities (long term) and Securities (Short term) . Under this particular option, one can easily fill details about their unlisted securities manually.

Answer: Yes. In the software, there are provisions about section 90, 90A, and 91. You can claim relief under above-mentioned sections through this software.

Answer: Yes. It calculates the limit automatically and gives you the exempted and taxable amount in computation.

Answer: Yes. There is compliance of section 44AD. In case of a firm, where the interest, salary and remuneration will be allowed after selecting higher between profits declared by the assessee at his own and deemed profits u/s 44AD. The tax will be calculated on whichever is higher basis depending upon the assessee.

Answer: Yes. Through the software MAT (Minimum alternative tax) u/s 115 JB is automatically calculated

Answer: Yes. Through the software, you can pay self-assessment tax, advance tax etc.

Answer: Yes you can file the return after due date with late fee amount specified u/s 234F.

Answer: Yes, it can be done if the original return has been filed before the due date and also the income tax department has not completed assessment for the same.