Filing taxes can be a seamless process with proper advice, particularly if you remain well-organized with vital documents such as the income tax declaration forms. With the new proposals for the introduction of new tax slabs for AY 2025-26, it's the perfect time to simplify your tax filing and optimise the benefits available.

In this article, we will talk about the Income Tax Declaration Form, why is it important, how to fill it out correctly, how to download the income tax declaration form PDF, the deductions you can claim and more.

The Centralised Processing Centre or CPC, is a unit of the Income Tax Department of India that facilitates bulk processing of Income Tax Returns (ITR). CPC was established in October 2010 with office located in Bangalore, Karnataka.

CPC uses advanced technology for efficient handling, error detection, and quick processing of tax returns. To understand the functioning of tax processing or income tax refund delay, you should be aware of the role of CPC. In this article, we shall talk about income tax refund, types of refund status, role of CPC in tax refunds, how to check refund status and more.

Taxes are an integral part of the Indian government's revenue. The inflow of taxes is required to fund the various expenses crucial to the country’s welfare. To encourage people to pay their taxes in time and diligently, various incentives as well as deductions are introduced from time to time. However, due to the very same deductions and incentives, some companies, despite earning large profits and distributing high dividends, steer clear of tax liabilities. To combat this, Minimum Alternate TAX or MAT was introduced for companies. In 2011, Alternate Minimum Tax (AMT) was also introduced as a parallel system to include the non-corporate taxpayers.

The goal is to safeguard against misuse of deductions and exemptions under the regular income tax system. AMT differs from the regular tax system as it recalculates the taxable income by adding deductions before applying a minimum tax rate. It guarantees that such tax benefits cannot completely wipe out tax liabilities for high-income earners. Let’s talk more about the Alternate Minimum Tax or AMT, along with the applicable Section 115JC of Income Tax Act, 1961.

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Filing applicable GST returns is an essential task that all businesses registered under the regime should follow. Following this step ensures you are declaring your income earned through business transactions, thus keeping it transparent in the eyes of tax authorities.

Further, once you are done filing returns online, you can also download, or view filed GST returns on the GST portal. Read on to know how.