Failure to file a return (if required) may result in prosecution and penalties. There is no provision for joint returns for spouses. An extension of time until the following 31 March is available for taxpayers with a tax agent. Returns (if required) must be filed by 7 July each year, depending on the income type and/or the country of source. Our experts suggest the best funds and youĬan get high returns by investing directly or through SIP.The New Zealand tax year ends on 31 March. Save taxes with ClearTax by investing in tax saving mutual funds (ELSS) online. ClearTaxĬan also help you in getting your business registered for Goods & Services Tax Law. Our Goods & Services TaxĬourse includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Our GST Software helpsĬAs, tax experts & business to manage returns & invoices in an easy manner. Further you can also file TDS returns, generateįorm-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income TaxĬAs, experts and businesses can get GST ready with ClearTax GST software & certification course. You can efile income tax return on your income from salary, house property,Ĭapital gains, business & profession and income from other sources. Just upload your form 16, claim your deductions and ClearTax serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses acrossĮfiling Income Tax Returns(ITR) is made easy with ClearTax platform. payments initiated by one firm (the licensee) to another firm/an individual (the licensor) for the right to utilise the latter's intellectual property (music, video, book).ĬlearTax offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants Trade/business-related activities in which an individual does not take part in the operations of a business other than investing during the year. There are three types of passive activities:Ĭash flows via property income, inclusive of profits from ownership of capital, rent via ownership of resources such as rental income, cash flows from a property or from any piece of real estate, and in the form of interest through owning financial assets. In a nutshell, passive income is money which flows in regular intervals without the need for putting in a considerable amount of effort to create it. As with any kind of financial investment, it's vital to gauge the expected returns with respect to a passive income opportunity versus the potential for loss. These four options indicate varying levels of risk and diversification. The four passive income investment options include - Real Estate, Peer-to-Peer Lending, Dividend Stocks, and Index Funds. It is termed as progressive passive income when an earner puts in little effort to generate income.Ī passive income investment will make the life of an investor easier in several ways, especially when a hands-off approach is chosen. Passive income requires little to no effort in order to earn and maintain. Usually, passive income is taxable.Ī few analysts consider portfolio income as passive income, and hence, interest and dividends would be regarded as passive income. Passive income comprises of earnings which are derived via a rental property, limited partnership, or any other enterprise in which any individual is not involved in active participation.
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