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Income Tax: A complete checklist for your ITR filing

Income Tax: A complete checklist for your ITR filing

Sat, Jul 29, 2017

ITR filing process is complicated and there are always chances of missing out some or the other step. 

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Income Tax: Need to report capital gains? This ITR form you need to file

Income Tax: Need to report capital gains? This ITR form you need to file

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. 

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Income Tax: Taxable income but 'forgot' to file your ITR? Here's what happens

Income Tax: Taxable income but 'forgot' to file your ITR? Here's what happens

Fri, Jul 28, 2017

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. 

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Income Tax: Download Form 26AS in eight easy steps to file ITR

Income Tax: Download Form 26AS in eight easy steps to file ITR

Thu, Jul 27, 2017

Your Tax Credit Statement / Form 26-AS is an important document for tax filing.

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Income Tax: 10 situations where ITR filing is mandatory

Income Tax: 10 situations where ITR filing is mandatory

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

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Income Tax: Know about Form 16A before filing ITR for 2016-17

Income Tax: Know about Form 16A before filing ITR for 2016-17

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. 

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Will ensure minimum possible direct interface between assesses and ITD Officers, says FM Jaitley

Will ensure minimum possible direct interface between assesses and ITD Officers, says FM Jaitley

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. 

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Income Tax: This is how you can show Rs 2 lakh deposit transaction in ITR copy

Income Tax: This is how you can show Rs 2 lakh deposit transaction in ITR copy

Mon, Jul 24, 2017

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

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Income Tax: Five places where you need to show ITR copy as proof

Income Tax: Five places where you need to show ITR copy as proof

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.

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Filed Your Income Tax return and realised you made a mistake? Here's what to do

Filed Your Income Tax return and realised you made a mistake? Here's what to do

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).

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Income Tax: TDS deducted but ITR not filed? Here's what professionals need to do

Income Tax: TDS deducted but ITR not filed? Here's what professionals need to do

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. 

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Income Tax: Made mistake in filing ITR? You can rectify them with a request

Income Tax: Made mistake in filing ITR? You can rectify them with a request

Tue, Jul 18, 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).

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Income Tax: Section 80C to help you lower your taxable income

Income Tax: Section 80C to help you lower your taxable income

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.

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Income Tax: File ITR before July 31 or face penalties

Income Tax: File ITR before July 31 or face penalties

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. 

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Income Tax: Are you eligible for tax refund? Here's how you can check after filing ITR

Income Tax: Are you eligible for tax refund? Here's how you can check after filing 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. 

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Income Tax: Five golden rules to remember while filing ITR

Income Tax: Five golden rules to remember while filing ITR

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.

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Income Tax: Bought new property? This is the form you need to file tax

Income Tax: Bought new property? This is the form you need to file tax

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.

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Income Tax: Here's how you can check if TDS was paid on your services

Income Tax: Here's how you can check if TDS was paid on your services

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. 

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Income Tax: Be ready with your Form 16 before July 31

Income Tax: Be ready with your Form 16 before July 31

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.

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Income Tax: Finding hard to calculate taxable income? Here's a simple way

Income Tax: Finding hard to calculate taxable income? Here's a simple way

Tue, Jun 27, 2017

Taxable income is the total of all incomes excluding all exemptions and deductions.

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