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IT department warns against fake Income Tax messages: Here is what you should not do

IT department warns against fake Income Tax messages: Here is what you should not do

Fri, Dec 14, 2018

It further cautioned the taxpayers to beware of fake refund messages claiming to be from the IT department, saying "We will never ask for your debit card details or CVV number to process your refund." The message in very clear terms has asked people never take up such calls and never click at the messages which seek details related to their debit card.

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This ICICI Bank savings account offers income tax-linked benefits, free bank ATM transactions, other benefits

This ICICI Bank savings account offers income tax-linked benefits, free bank ATM transactions, other benefits

Wed, Dec 12, 2018

ICICI Bank has today launched a bank account which not only allows unlimited free transactions at any bank's ATM, but has various other added benefits including on income tax. The only catch is that the bank account is only for working women.

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Taxpayers Alert! Have you filed your income tax? Remember these deadline nears; know from TDS, TCS to challan, forms

Taxpayers Alert! Have you filed your income tax? Remember these deadline nears; know from TDS, TCS to challan, forms

Tue, Dec 11, 2018

Although one would not like to share their income and income from other sources with authorities, however, it comes as a helping hand for government in managing the country's economy. 

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How to save Income Tax in India: Forget savings and investments, you can do this by spending also

How to save Income Tax in India: Forget savings and investments, you can do this by spending also

Sat, Dec 08, 2018

Have you ever wondered about any option that will allow you to save taxes on your expenses? Yes, there are certain rules under which you can claim tax exemptions based on your expenses. 

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'HIDDEN' Income Tax Return benefits: Check this Income Tax Deductions for AY 2019-20 provision

'HIDDEN' Income Tax Return benefits: Check this Income Tax Deductions for AY 2019-20 provision

Tue, Dec 04, 2018

While it is a good idea to donate money, not many people are aware that they can also get tax break for the noble act.

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Income tax return filing skyrockets, rises 50% so far this year

Income tax return filing skyrockets, rises 50% so far this year

Tue, Dec 04, 2018

Demonetisation has been very good for increasing the tax base of the country. This year, we have already got around 6.08 crore income tax returns, which is 50 per cent higher than last year by this particular date, he said. 

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Black money crackdown: Income Tax dept seizes Rs 25 cr cash after survey on pvt vault in Chandni Chowk

Black money crackdown: Income Tax dept seizes Rs 25 cr cash after survey on pvt vault in Chandni Chowk

Tue, Dec 04, 2018

The Income Tax Department has seized over Rs 25 crore cash after surveying a 300-safes strong private vault in the Chandni Chowk market area here, officials said on Monday.

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Income Tax Return for salaried employees: From Standard deduction on salary to House Rent allowance, your problems solved

Income Tax Return for salaried employees: From Standard deduction on salary to House Rent allowance, your problems solved

Mon, Dec 03, 2018

Income Tax Return: Many changes were introduced in the taxation system in Union Budget 2018-19. There were new rules regarding Standard Deduction of Rs 40,000 in lieu of medical reimbursement and transport allowance.

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Income Tax slabs for AY 2019-20: Modi govt's last big policy decision; What New Direct Tax Code may propose

Income Tax slabs for AY 2019-20: Modi govt's last big policy decision; What New Direct Tax Code may propose

Mon, Dec 03, 2018

Income Tax slabs, rates for AY 2019-20: The Union government led by Prime Minister Narendra Modi plans to change the cumbersome Income tax Act. 

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Income Tax Return on salary: From life insurance policy, medical allowances to ex-gratia; your exemption problems solved

Income Tax Return on salary: From life insurance policy, medical allowances to ex-gratia; your exemption problems solved

Fri, Nov 30, 2018

Income Tax Return on salary: Paying tax on your hard earned money is a pain and to avoid this pain, the government has allowed taxpayers to claim some exemptions as per certain rules and regulations.

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Income Tax Act 1961 change plan on Modi govt's agenda; Here's how you may benefit

Income Tax Act 1961 change plan on Modi govt's agenda; Here's how you may benefit

Tue, Nov 27, 2018

Income Tax Act 1961 change plan: After implementing path breaking Goods and Services Tax (GST), changing the cumbersome and archaic Income Tax Act is the next big agenda of Prime Minister Narendra Modi-led Union Government.

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Your free bank ATM cash withdrawal, cheque, deposit, locker visits face this big threat; here's why

Your free bank ATM cash withdrawal, cheque, deposit, locker visits face this big threat; here's why

Mon, Nov 26, 2018

Already stressed due to huge NPAs, commercial banks now find themselves in a situation where they might have to end free services for the common man. 

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Income Tax capital gains exemption: All you need to know; Check income tax calculator

Income Tax capital gains exemption: All you need to know; Check income tax calculator

Sun, Nov 25, 2018

Income Tax calculation for AY 2019-20: Capital gains or losses form one of the trickiest parts of income tax calculation.

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Income Tax Deductions for AY 2019-20: Little-known surprising benefits explained; check IT calculator

Income Tax Deductions for AY 2019-20: Little-known surprising benefits explained; check IT calculator

Sat, Nov 24, 2018

Income Tax Deductions for AY 2019-20: It is not possible for everyone to undergo all provisions of the Income Tax Act of India.

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Income tax crackdown: Service charge not distributed to staff by restaurants liable to tax

Income tax crackdown: Service charge not distributed to staff by restaurants liable to tax

Fri, Nov 23, 2018

Service charge collected by hotels and restaurants but not passed on to staff and workers will be liable to income tax in the hands of such entities, the tax department has said.

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Beware! Got Black Money? Get ready to give up this whopping amount in India

Beware! Got Black Money? Get ready to give up this whopping amount in India

Wed, Nov 14, 2018

Income Tax on black money in India: Have you got black money? You may end up paying a big price, if yes.

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Income Tax Return: You can save Rs 150,000! Here's why audit, filing deadline is important

Income Tax Return: You can save Rs 150,000! Here's why audit, filing deadline is important

Mon, Oct 29, 2018

Income Tax Return: The government of India recently extended the deadline for filing income tax returns and the audit report for financial year 2017-18 to October 15. 

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Tax e-filing and investment platform ClearTax raises $50 mn, all set to hire

Tax e-filing and investment platform ClearTax raises $50 mn, all set to hire

Thu, Oct 25, 2018

Tax e-filing and investment platform ClearTax, which has just raised $50 million in Series B funding led by Composite Capital, is building its presence in the country.

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Income tax return filing: How this man was slapped with Rs 37,45,000 addl income shock and how he got relief

Income tax return filing: How this man was slapped with Rs 37,45,000 addl income shock and how he got relief

Tue, Oct 23, 2018

A taxpayer had filed his return of income, which was processed by the tax officer under the ordinary procedure. After some time, the tax officer received some additional information on the taxpayer basis the Annual Information Returns filed by various institutions/companies as required under the Income Tax Ac ('the Act').

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Income tax returns benefit: Gift your way to saving tax, spread festive cheer among kin

Income tax returns benefit: Gift your way to saving tax, spread festive cheer among kin

Thu, Oct 18, 2018

Any immovable property received as a gift would be taxed in your hands. The next step would be to determine the value that must be taxed. For this, the law prescribes something called the Stamp Duty Value (commonly referred to SDV) of the asset, which is nothing but the value of the property adopted by stamp valuation authorities for determining the stamp duty.

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