Sat, Oct 26, 2024
ITR Filing Deadline Extend: The income tax department has announced a 15-day extension for corporates to file their income tax returns, moving the deadline to November 15 for the assessment year 2024-25.
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Wed, Sep 04, 2024
Income Tax Return Filing: House Rent Allowance (HRA) is a key component in the salary of an employee taxpayer. It can help them save considerable tax. But sometimes, such taxpayers get greedy and use wrong methods to cheat the Income Tax Department (I-T Department). But the I-T Department has its own ways to catch such violators.
Fri, Aug 30, 2024
ITR Filing: If you are one of those who have filed an ITR by 31st July and have not yet verified it, then you have only one day left because today i.e. August 30, is the last day to verify it. Know penalty charges, how to e-verify your income tax return:
Fri, Jul 28, 2017
If you are filing ITR online or on incometaxindiaefiling.gov.in, there you will see seven ITR forms along with their briefs. Depending your category, you can select the relevant form.
Defaulters will have to pay Rs 5,000 if taxes are paid after the deadline of July 31 but before December 31 of the assessment year.
Thu, Jul 27, 2017
Your Tax Credit Statement / Form 26-AS is an important document for tax filing.
Wed, Jul 26, 2017
If you are still thinking whether you are eligible to file ITR or not, then we give you 10 situations as per the Income Tax Act which makes it mandatory for an individual to file ITR in India
Tue, Jul 25, 2017
Form 16A is a tax deducted at source Certificate. While Form 16 is for only salary income, Form 16A is applicable for TDS on Income Other than Salary.
Mon, Jul 24, 2017
Arun Jaitley praised Revenue Secretary, Minister of Finance, Hasmukh Adhia for successful implementation of Income Declaration Scheme and activities during and after demonetisation.
This year the department has added a new column where the taxpayer’s will have to report the details of cash deposited in their bank accounts (including loan account) if the aggregate cash deposits for all accounts exceeds Rs 2 lakh during the demonetisation period
Fri, Jul 21, 2017
Even if you don't earn enough to be in the lowest income tax bracket, you should still file income tax returns as its copy is required for many financial transactions.
Thu, Jul 20, 2017
Once the income tax returns have been processed by the tax department, the taxpayer can make changes by filing a rectification request under Section 154(1).
Wed, Jul 19, 2017
As per the Section 194J of Income Tax Act, employers need to deduct tax deduct at source (TDS) from payments made to professionals.
Tue, Jul 18, 2017
Mon, Jul 17, 2017
Legally, the government allows for certain tax-saving deductions that you can use to lower your taxable income. You can effectively use these deductions to pay less tax.
Fri, Jul 14, 2017
Finance Arun Jaitley had introduced a late filing fee under new provision of Section 234F under Income Tax Act. As per the rule, taxpayer will have to pay penalty of up to Rs 10,000 for late filing of ITR.
Tue, Jul 11, 2017
Sometimes, while filing the return, you may end-up paying more tax to the government than your actual tax liability. In such cases, you are eligible for a tax refund.
Mon, Jul 10, 2017
Form no 16 is issued once in a year, on or before 31st May of the next year immediately following the financial year in which tax is deducted.
Fri, Jul 07, 2017
If you purchase a property of more than Rs 50 lakh value, you need to deduct TDS at 1% from the payment you have made.
Wed, Jul 05, 2017
A self-employed person needs to understand the tax treatment. From a tax perspective, self-employed individual's income is Profit & Gains of Business & Profession.
Mon, Jul 03, 2017
Even if you have left your job, your employer will provide you a Form 16. Unfortunately, this income tax form 16, cannot be downloaded from anywhere.
Tue, Jun 27, 2017
Taxable income is the total of all incomes excluding all exemptions and deductions.
Fri, Jun 23, 2017
ITR filing process is considered as little complex, and if you are a non-resident Indian (NRI) the process will be different all together.
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